*Argentina’s government led by President Javier Milei and the International Monetary Fund (IMF) have reached a staff-level agreement on the eighth review under Argentina’s Extended Fund Facility (EFF) arrangement. This means Argentina will have access to a disbursement of funds in line with the programme, subject to agreement by the IMF’s executive board. Although neither the IMF nor Argentina’s government disclosed the amount of the disbursement, it is believed to be around US$800m, according to IMF sources consulted by the press. An IMF team led by Luis Cubeddu, the deputy director of the IMF’s Western Hemisphere department and Ashvin Ahuja, the mission chief for Argentina, issued a statement citing Argentina’s “better-than-expected performance in the first quarter” and noting that “all performance criteria were met with margins”. The IMF added that it had reached understandings with the Argentine authorities on “policies to continue to entrench the disinflation process, rebuild external buffers, support the recovery, and keep the programme on track”.
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LatinNews Daily - 14 May 2024
In brief: Argentina completes another successful IMF review
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