The International Monetary Fund announced on Wednesday that it had reached an agreement with the new Argentine government and that it had provided approximately $4.7 billion, thus avoiding the country’s default.
The final details of the negotiations for this first disbursement to Javier Milei’s government took place in Buenos Aires, in the presence of the organization’s negotiator Luis Cubeddu and the IMF representative in Argentina Ashvin Ahuja, who met with minister Luis Caputo on Friday, the Chief of Staff Nicolás Posse and officials of the Treasury and the Central Bank.
The Government has tried to unblock as soon as possible the payments pending since last November, when Minister Sergio Massa failed to achieve all the objectives of the program, and the seventh revision of the Agreement was never carried out.
In a statement, the Fund said: “IMF staff and Argentine authorities have reached understandings on a set of economic policies that can restore macroeconomic stability in Argentina and put the current program back on track.”
“This agreement, subject to continued and sustained political implementation, will be submitted to the Executive Board of the International Monetary Fund for approval in the coming weeks. Once the review is completed, Argentina will have access to approximately $4.7 billion ( or 3.5 billion SDRs),
“The proposed disbursement is intended to support the strong policy efforts of the new authorities to restore macroeconomic stability and help Argentina meet its balance of payments needs”
Source: Clarin
