President Javier Milei announced an IMF deal for Argentina is expected by mid-April, following Congress’s approval of an emergency decree. Details remain unclear, but a grace period for repayments exceeding four years has been confirmed, with speculation of new IMF disbursements between US$5 billion and US$20 billion.
President Javier Milei has announced that Argentina is on track to finalize a new agreement with the International Monetary Fund (IMF) by mid-April. This information was reported by Bloomberg Línea, citing Milei’s response regarding the timeline for securing a staff-level arrangement with the IMF.
The expected announcement follows a key legislative development, as Argentina’s lower house of Congress endorsed Milei’s emergency executive decree that supports the proposed IMF deal. The Chamber of Deputies voted 129-108 in support of the decree, with six abstentions. Importantly, such decrees require approval from only one congressional chamber to be enacted, making this vote a significant step in the process.
While specific terms of the new agreement have yet to be disclosed, the government has announced that Argentina will benefit from a grace period on repayments extending beyond four years. However, Milei’s economic team has been reticent to provide comprehensive details, with mixed signals regarding the arrangement. Economy Minister Luis Caputo stated that the details regarding the amount of new funds from the IMF have yet to be finalized.
Currently, Wall Street speculation suggests that under the new agreement, President Milei’s administration could receive an infusion of funds ranging from US$5 billion to US$20 billion, reflecting a significant potential financial impact for the country.
In conclusion, President Javier Milei indicated that an agreement with the International Monetary Fund will likely be confirmed by mid-April, following the approval of an emergency decree by Congress. Although details of the deal remain undisclosed, Argentina has secured a long grace period for repayments. The anticipated financial support from the IMF could range between US$5 billion and US$20 billion, showcasing the significance of this impending agreement for the nation’s economy.
Original Source: batimes.com.ar
