But they borrowed $1.4 billion from the IMF in December last year, so I feel that they used the loan money to buy bitcoins, even though they promised the IMF not to use public funds to buy bitcoins.
They never promised IMF on anything unrelated to that, IMF only warned them to be cautioned regarding any kind of investment like bitcoin that could be volatile, though there may be terms to the granting of the loan, but I don't think buying bitcoin is part of what could be termed as breach of law according to their agreement, this only shows how El-Salvador is been logical in their investments and IMF may only borrow them money, but not to dictate for them.
They had the agreement that The El Salvadorian government would rescind from using bitcoin as the country's legal tender and ensure bitcoin payments are completely voluntarily and in addition to that, they stipulated that the government would stop using public funds to purchase bitcoin, this was their agreements as El Salvador obtained a loan of $1.4B from IMF in December 2024.
IMF went to the extent of issuing them another request for the purchases to end in March citing their earlier agreements, but Bukele reacted with Posting on his X account that it is not going to stop now or even in the future.
El Salvador remains adamant and continues buying bitcoin everyday and even speculates on increasing their purchasing amount in the future.
What bothers me is that the same IMF that is pressuring them to stop buying bitcoin is still giving them more money even as they are going against agreements