A report from the Swiss bank UBS raised the amount of the agreement between Argentina and the IMF to around US$ 20 billion, generating expectations in the market. This increase is due to the political backing that the IMF seeks, especially in an election year in Argentina, where the new agreement is expected to be supported by as many parties as possible.
The package would include US$ 8 billion in new funds, intended to cover capital and interest payments that Argentina must face during Javier Milei's term. However, uncertainty arises over whether this new agreement will imply an increase in debt, as the Government claims.
The Minister of Economy, Luis Caputo, hinted that the program will bring measures that would modify the current economic scheme, but he avoided confirming details, such as the value of the dollar once the plan is implemented. It was emphasized that the program already has a defined total amount agreed upon with the technical staff of the IMF, based on different scenarios to demonstrate its viability.
If the Government manages to close a favorable deal, it is expected to reinforce financial stability and facilitate the elimination of currency controls. The uncertainty among operators lies in whether this backing will be sufficient to lift the currency clamp, a promise from the Government that it seeks to fulfill before the end of the year.
Amid these movements, markets and financial analysts express doubts about the impact that potential IMF aid will have and whether it will be enough to lift the currency clamp. There are questions about the depth of the agreement and its suitability, especially regarding changes in exchange policy.
Financial consultancies view these Government moves with skepticism and question the effectiveness of the proposed measures. A definitive agreement with the IMF is expected to strengthen confidence in the Argentine economy and attract new investments, marking a possible turning point in the country’s economic situation.
