Argentina is pushing for an initial disbursement exceeding 40% under a new $20 billion program it is negotiating with the International Monetary Fund (IMF), Economy Minister Luis Caputo revealed on Sunday.
Speaking on television, Caputo highlighted the government’s achievements in eliminating the fiscal deficit and cutting public spending. These measures, he said, aim to strengthen central bank reserves and ease foreign exchange restrictions that have long been seen as obstacles to business and investment.
“We’ve requested more because, traditionally, these are made in exchange for monetary and fiscal targets,” Caputo explained. “First disbursements are usually between 20% and 30%, but we’ve already done everything.”
The proposed four-year agreement follows a previous $44 billion IMF deal signed in 2018. However, final approval from the IMF’s board of directors is still pending. If granted, the larger-than-usual first disbursement could provide Argentina with crucial financial relief as it navigates economic challenges and seeks to stabilise its economy.
Melissa Enoch
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