IMF and Milei administration agree on $800 million transfer

The president of ArgentinaJavier Milei, and the International Monetary Fund (IMF) reached a technical agreement with the aim of reviewing the current program that the South American nation maintains with the organization, in order to proceed to release a transfer to the country of 800 million dollars.

As reported by the newspaper The nationThe IMF described the talks with Milei’s government as “great progress” but stressed that “continued efforts are needed” to improve the quality and equity of fiscal consolidation, “fine-tune monetary and exchange rate policy frameworks” and “address bottlenecks to growth.”

Likewise, through a statement, the International Monetary Fund (IMF) welcomed the fact that Milei’s government seek strategies to stabilize Argentina’s economy.

«Despite inheriting a highly complex economic and social situation, the firm implementation of the authorities’ stabilization plan – based on a solid fiscal anchor, the absence of monetary financing and the correction of relative prices – has allowed progress to be made more quickly than expected in the restoring macroeconomic stability and firmly putting the programme back on track«.

Agreement between the IMF and the government

The agreement between the parties is expected to be ratified by the Executive Board in the coming weeks.

The agreement comes following Milei’s government managed to “meet with plenty of room to spare the fiscal and monetary goals for the first quarter agreed upon at the beginning of this year, when the team led by the Minister of Economy, Luis Caputo, relaunched the program that had been signed by the Alberto Fernández administration, virtually fallen in the middle of the last presidential campaign“, said La Nación.

This way, It is evident that the executive maintains successful communication with the entityfollowing the imposition of extreme measures on the Argentine economy.