IMF and Argentina have reached a staff-level agreement designed to support Argentina's economic program through a 48-month arrangement under the Extended Fund Facility (EFF). The arrangement amounts to US$20 billion, equivalent to 479 percent of the country's quota, contingent upon the approval of the IMF Executive Board.
According to the IMF, Argentina's early efforts to stabilize its economy are noteworthy, emphasizing a "strong fiscal anchor" contributing to both "rapid disinflation and a recovery in activity and social indicators." The broader program aligns with Argentina's goal to reinforce macroeconomic stability and enhance sustainable growth amid a challenging global economic landscape.
It is anticipated that the IMF Executive Board will soon review the proposed arrangement.