Argentina’s IMF Agreement Expected by Mid-April, Says President Milei

President Javier Milei stated that Argentina will announce a new IMF agreement by mid-April. The lower house of Congress recently approved Milei’s emergency decree, paving the way for this deal. Specifics about the deal, including potential financial disbursements, remain uncertain but are projected to be between $5 billion and $20 billion.

President Javier Milei announced that Argentina’s new agreement with the International Monetary Fund (IMF) is expected to be finalized by mid-April. According to a report by Bloomberg Línea, he confirmed that a staff-level agreement would be established at that time. This development follows a recent vote by Argentina’s lower house of Congress, which approved Milei’s emergency executive decree, a necessary legislative step for formalizing any new arrangement with the IMF.

In the Chamber of Deputies, lawmakers voted 129-108 in favor of the agreement with six abstentions, effectively solidifying the decree into law as approval from only one congressional chamber is sufficient. The government has yet to disclose specific details regarding the new deal; however, it has been confirmed that Argentina will benefit from a grace period on repayments extending beyond four years.

Milei’s economic team has been somewhat reticent about revealing details of the agreement with the IMF, offering mixed signals. Despite earlier indications that only minor details remained, Economy Minister Luis Caputo stated that the specific amount of new funds to be granted by the IMF has yet to be determined. Market speculation suggests that under the new agreement, Argentina could receive disbursements ranging from $5 billion to $20 billion.

In summary, President Javier Milei has indicated that Argentina will announce a new agreement with the IMF by mid-April, following the congressional approval of an emergency decree. While specifics remain undisclosed, the deal is anticipated to include a grace period on repayments and potential financial disbursements from the IMF. Continued speculation surrounds the exact amount of these funds, indicating significant interest from Wall Street.

Original Source: batimes.com.ar