Argentina managed to comply with the reduction of the fiscal deficit and the Central Bank’s reserve purchase specifications, established by the International Monetary Fund, for which it will receive a disbursement of USD 800 million in June.

The South American country passed the IMF’s eighth review of these two key agreements, so the Milei government was not forced to request “a waiver” to obtain a disbursement next month.

The IMF statement said: “Based on better-than-expected results – all performance criteria for the first quarter were over-met – IMF staff and Argentine authorities reached an understanding on policies to continue strengthening the disinflation process, reconstitute international reserves, support the recovery and keep the program firmly on track.”

Monitoring by the international organization in Argentina continues; In fact, the agreements will be reviewed in the coming weeks to approve other disbursements according to the agreement.

Despite the fact that Milei received a country in crisis, the IMF recognized achievements such as “the first quarterly fiscal surplus in 16 years, the rapid fall in inflation, the change in the trend of international reserves and a strong reduction in sovereign risk.”

Changes are still expected in key sectors, such as fiscal, monetary and exchange policy, as well as macroeconomic reforms.

M.Pino

Source: ambito

(Reference image source: Juan Pablo Mascanfroni en Unsplash)

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La entrada Argentina will receive USD 800 million from the IMF apareció primero en Bitfinance.