IMF Questions Pakistan’s Bitcoin Initiatives

The International Monetary Fund (IMF) has expressed concerns regarding Pakistan’s initiatives in the realms of cryptocurrency and artificial intelligence, according to local media.

The country’s authorities announced the allocation of 2 GW of surplus electricity for Bitcoin mining and powering data centers to support the AI sector. Speaking at the Bitcoin 2025 conference in Las Vegas, the Prime Minister’s advisor on cryptocurrencies, Bilal bin Saqib, announced the creation of a national reserve in digital gold.

The initiatives prompted a sharp reaction from the IMF, which requested urgent clarifications regarding the legal framework of the announced steps and the distribution of electricity amidst its chronic shortage.

A source in the Ministry of Finance acknowledged that the authorities had not informed the international organization of their plans. All political decisions must be coordinated with the fund as part of the ongoing discussions on financial assistance from the organization.

“There are concerns that the IMF will take an even tougher stance on this program. The government’s economic team is already facing difficult questions, and this move has only complicated the negotiations,” confirmed the official.

The fund’s delegation is expected to hold a separate session with Pakistani negotiators, focusing on the allocation of electricity for mining and AI centers.

The announced initiatives are part of a broader government strategy to integrate digital assets into the national economy. Authorities anticipate that the technological transition will attract investment and foster growth.

A significant part of the plan will be the creation of the Ministry of Finance-approved Pakistan Digital Assets Authority (PDAA). The agency will regulate crypto exchanges, wallets, stablecoins, and DeFi platforms. It will also oversee tokenization processes.

“PDAA is a crucial step in protecting global investors and formalizing Pakistan’s role in the digital economy,” emphasized Bilal bin Saqib in his conference address.

Sources noted that the authorities are refraining from official statements, considering the IMF’s concerns and the lack of a legal framework for cryptocurrencies.

Earlier, the IMF pledged to make every effort to halt the Bitcoin purchases by the authorities of El Salvador.

In 2024, the country’s government reached agreements with the fund for financing on the condition of limiting crypto initiatives. The authorities continued to build up their digital gold reserves, in line with President Nayib Bukele’s promise.