La Derecha Diario The IMF stated that negotiations for the agreement with Argentina are 'advanced.'
The International Monetary Fund confirmed that conversations with Javier Milei are at an advanced stage
In a key step for the country's economic stability, the International Monetary Fund (IMF) confirmed that negotiations for a new financing program with Argentina are advanced.
The information emerged after a meeting between the organization's board and its technical staff, responsible for defining the details of the agreement with the government of Javier Milei.
Sources from the international organization assured: "The Fund's technical team is maintaining consultations with the Executive Board. The conversations about a new Fund-supported program are advanced and within the framework of our usual internal processes."
The discussions revolve around two key points: the amount of the initial disbursement that the board would authorize and the parameters that would establish the intervention of the Central Bank in the foreign exchange market.
According to reports, Argentina has requested financing of at least 20 billion dollars, with the aim of canceling capital debt of 14.1 billion dollars maturing between 2026 and 2029 and reinforcing the financial stability of the Central Bank.
The IMF will apply an interest rate of 5.72% annually on the funds granted. In that sense, the Argentine government seeks to ensure that the requested advance doesn't generate unnecessary additional costs.
Additionally, the Decree of Necessity and Urgency (DNU) approved in the Chamber of Deputies establishes that these resources must be exclusively allocated to the purchase of Non-Transferable Letters from the Central Bank and the payment of previously acquired debt.
The IMF's internal process includes several preliminary stages before the final signing of the agreement. The Western Hemisphere Department, led by Rodrigo Valdés and represented in this negotiation by Luis Cubeddu, leads the conversations.
Other key areas such as the Finance Department, the Strategy, Policy, and Review Department, and the Research Department, which evaluate the macroeconomic sustainability of the plan, are also involved.
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