The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, announced that a Fund team will travel to Buenos Aires next week to work on a new program that positively impacts Argentina's economy. Georgieva expressed her confidence that these efforts will lead to a more prosperous and dynamic country.
The IMF mission in Buenos Aires, led by Luis Cubeddu, deputy director of the Western Hemisphere Department of the institution, had started last week and recently concluded. Discussions between the Argentine government and the IMF will continue in the coming weeks, with no certainty about the exact date when an agreement will be finalized.
During the meetings, the details of a new financial program were discussed, which includes a disbursement of approximately US$ 11 billion. This program aims to strengthen Argentina's reserves and allow for the lifting of currency controls throughout this year.
Although initial expectations pointed to a quick agreement, the IMF's statement following the mission dampened optimism by indicating that talks will continue in the following weeks. The Argentine government, represented by Economy Minister Luis Caputo, continues to work closely with the Fund to reach a mutually beneficial agreement.
In previous statements, Kristalina Georgieva emphasized the importance of working quickly on a new program. For his part, presidential spokesperson Manuel Adorni stated that there is no set date for signing the agreement, although he expressed confidence that it will materialize, thanks to the measures taken by the Argentine government to stabilize its accounts.
Despite the uncertainty regarding specific amounts and deadlines, Adorni assured that no inconveniences are anticipated and reaffirmed President Milei's confidence in signing the agreement this year. In that sense, he indicated that work is being done swiftly on the new program to present it to the executive board, without providing details on a specific timeline for the negotiations.
