The International Monetary Fund praised Argentina's significant progress in reducing inflation, stabilizing the economy, recovering growth, and starting to reduce poverty, according to the Fund's Communications Director, Julie Kozack, at a press conference in Washington. Despite recognizing these achievements, she emphasized the need for the country to continue implementing fiscal, monetary, and exchange rate policies, as well as to carry out more structural reforms to keep advancing.
In this regard, the IMF highlighted the importance of Argentina establishing a new financial program to bolster its reserves, allowing it to lift exchange restrictions smoothly throughout this year. A recent IMF mission in Buenos Aires was described as "constructive" and negotiations for a new agreement are underway.
Despite the reluctance to provide concrete details about the ongoing discussions, Julie Kozack stated that interactions with Argentine authorities have been positive and that work is being done on a program that builds on the progress made so far while also addressing the country's ongoing challenges. The IMF's Communications Director emphasized the importance of maintaining coherent policies in fiscal, monetary, and exchange rate matters, along with reforms that boost economic growth.
For his part, Argentine Economy Minister Luis Caputo clarified that a potential new agreement with the IMF would not imply an immediate devaluation of the peso or the immediate removal of exchange restrictions. In this sense, discussions between the International Monetary Fund and Argentina continue constructively, aiming to advance negotiations to reach an agreement that benefits both parties and contributes to the country's economic development.
