“Prudent macroeconomic management and efforts to mobilise external financing are supporting stability,” declares IMF mission team as latest staff review is signed off.
The International Monetary Fund (IMF) has paved the way for the disbursement of US$6 billion in fresh funds for Argentina after confirming that staff have reached an agreement with President Alberto Fernández’s government on the third review of its multi-billion-dollar aid package.
Last March, the multilateral lender approved a new debt assistance programme for Argentina’s troubled economy totalling just US$44 billion and spanning 30 months.
“Prudent macroeconomic management and efforts to mobilise external financing are supporting stability,” the IMF said in a statement confirming that Argentina had cleared the latest review.
The agreement between the staff and the Argentine authorities “is subject to approval by the IMF’s executive board” at a meeting later this month and “once the review is completed, Argentina will have access to about US$6 billion,” said the Fund.