International Monetary Fund (IMF) spokeswoman said that negotiations between Argentina and the lender on a new agreement have progressed but declined to give any further details. The Fund confirmed in December that Argentina had formally requested a new deal, although conditions for a new disbursement remain unknown. The country signed an Extended Fund Facility (EFF) agreement with the IMF in 2022, when Alberto Fernández’s administration renegotiated the US$44-billion debt former President Mauricio Macri acquired in 2018. The 2022 deal came with an economic program the country had to comply with to get disbursements from the Fund every three months, which were used to pay Argentina’s previous debt with the IMF. Now, the Milei administration wants a new deal that includes fresh funds to strengthen the country’s ailing international reserves.
February 6, 2025
SOURCE: BUENOS AIRES HERALD
IMF praises Argentina’s ‘progress’ but shares no details on new deal