Argentina's debt with the International Monetary Fund has been increasing, already exceeding US$ 12.5 billion in interest paid since the country resumed borrowing in 2018 during the government of Mauricio Macri. This indebtedness has created a heavier financial burden, becoming a concern in the current negotiations.
A report from the Congressional Budget Office details that, from the loan granted in 2018 for US$ 42.678 billion, a total of US$ 6.652 billion has been paid in interest so far, from the start of the agreement in June 2018 to the last payment in August 2024. On the other hand, the 2022 loan, which is still active, has involved the payment of US$ 4.432 billion from May 2022 to August 2024. Recently, in November, an interest payment of US$ 741 million was made, and last week another payment of US$ 650 million.
If an agreement is not reached in the ongoing negotiations, it is expected that by 2026 the debt with the IMF will be even greater. By 2034, Argentina will have to disburse more than US$ 13 billion in interest, as long as it meets future due dates and the IMF does not grant new credits. Until December 2019, during Macri's government, US$ 1.491 billion was paid; in the four years of Alberto Fernández, it amounted to US$ 7.402 billion; and under Javier Milei's administration in 2024, US$ 3.098 billion was paid.
The beginning of 2025 was marked by an initial payment of US$ 650 million, which affected the Central Bank's reserves. By the end of December 2024, the total debt with the IMF amounted to US$ 40.558 billion.
