*Argentina’s President Javier Milei has stated that the country is “close to closing” a new deal with the International Monetary Fund (IMF). Speaking to cable news channel A24, Milei stated that the deal would see new funds disbursed to Argentina to pay the debt that the treasury has with the central bank (BCRA). He added that the new agreement solely aims at restoring the BCRA’s balance sheet and assured that it will not be sent to congress for approval once signed, as required by law, saying there is a mechanism that allows the executive branch to skip this step. Milei’s government and the IMF have been in talks regarding a new loan agreement after the Extended Fund Facility (EFF) that the IMF granted to Argentina in 2022 expired in December last year. During the interview, Milei also stated that, according to his economic plan, the Argentine peso should reach an exchange rate of Ar$600 per US$1, down from its current rate of over Ar$1,000. He also defended plans to reach a free trade agreement with the US, denying that US President Donald Trump, of whom he is a great admirer, was “protectionist”.
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LatinNews Daily - 11 February 2025
In brief: New IMF deal ‘close’ says Argentina’s Milei
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