In a statement published on its official site, the International Monetary Fund (IMF) reported on Tuesday that He reached an agreement with Argentina “At a technical level on an integral economic program.”
The same, he added, “could be supported by a 48 -month agreement within the framework of the IMF extended service For a total of 20,000 million dollars (15,267 million Deg or 479 percent of the quota), subject to the approval of the IMF Executive Directory“.
In addition, he explains that the agreement “is based on The impressive progress initial authorities in the stabilization of the economy, based on A solid fiscal anchorwhich is generating a rapid deflation and a recovery of activity and social indicators. ”
“The program supports the following phase of the stabilization and reform agenda of Argentina, whose objective is consolidate macroeconomic stabilitystrengthen external sustainability and generate solid and sustainable growth, while managing the most complex world context, “he said.
The text ends informing that “The IMF executive directory is expected to consider the agreement proposed in the next few days. ”
IMF Reaches Staff-Level Agreement with Argentina on a 48-Month Extended Fund Facility (EFF) https://t.co/zMfi37yTo0
– Totocaputo (@luiscaputar) April 8, 2025
The statement was shared in his X account by the Minister of Economy, Luis Caputo. Minutes later, it was the president Javier Milei who uploaded him to his networks.
After setting the statement, Milei also added another tweet, with a typing error included and a photo hugging Caputo after getting the understanding of the IMF.
In this way, the negotiations that Argentina carries with the IMF for this new loan are directed to end the support that the government intended to solidify the reserves of the Central Bankin the middle of the global turbulence in the markets for the tariffs applied by the US president, Donald Trump.
If on Friday the Casa Rosada receives the news you expect, Argentina must define the new exchange scheme and A schedule to get out of the stocks.
He Board He has maintained informal meetings for two weeks. At the end of March, He received the Argentine staff to analyze a first draft. And last week, the board discussed the amount of initial disbursement, Without reaching an agreement.
The Chief of the IMF, Kristalina Georgieva, had considered “Reasonable” an advance for 40% of the loan (US $ 8,000 million), but the economic team requests a figure exceeding US $ 10,000 million.
“The first disbursement fee is important because the BCRA is very decapitalized,” Luis Caputo explained a few days ago and acknowledged that There is no precedent for the fund to make such a high initial loan like the one requested by Argentina.
And he added: “In general They make 20, 30, 40% (of the total). We have requested more because in a traditional agreement what the fund is doing partial disbursements in exchange for compliance with fiscal and monetary goals. Thing that in the case we already did. ”
The Minister of Economy insisted that the dollars that will be received will be to “repurchase non -transferable letters; those dollars become part of the BCRA reserves and reserves are freely availability.”