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LatinNews Daily - 25 July 2025
In brief: Argentina reaches staff-level agreement with IMF
*The International Monetary Fund (IMF) has reached a staff-level agreement with authorities in Argentina on the first review under the US$20bn extended fund facility (EFF) arrangement agreed with President Javier Milei’s government in April. The agreement allows for the disbursement of around US$2bn, subject to approval by the IMF executive board. The IMF said the programme had “had a strong start despite a more challenging external backdrop”, noting that Argentina’s inflation and poverty rates had dropped while growth has ticked up. The IMF stated that the transition to a more flexible exchange rate regime and easing of most foreign exchange controls “have proceeded smoothly” adding that “notably, Argentina has re-accessed international capital markets earlier than anticipated”. The IMF said that understandings were reached on policies aimed at safeguarding the fiscal anchor, rebuilding reserve buffers, and ensuring inflation continues to drop.
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- In brief: Argentina reaches staff-level agreement with IMF