Argentina will be able to access the disbursements established in the agreement, despite the Congress's decision.
The meeting was unusual. Never before had a Treasury Secretary received an Argentine Economy Minister on a Sunday, especially in a context where the White House was preparing its tariff strategy against Mexico, Canada, and China, aiming to curb illegal immigration and drug trafficking.
During the meeting, Caputo detailed to Bessent his fiscal adjustment plan and the program he is negotiating with the IMF's technical team and Kristalina Georgieva.
The U.S. official conducted the usual inquiries, and the meeting served to reaffirm the U.S. administration's support for Milei's Government.
Once the technical negotiations with the IMF are completed, the Staff Level Agreement (SLA) will be announced, detailing what commitments the Casa Rosada assumed in exchange for the additional disbursement. This document will be sent to the Fund's board, which is under U.S. influence and usually takes about two weeks for approval.
While the SLA is under review, Congress will debate its content and scope. The "Guzmán Law" remains in effect, requiring the Executive Power to submit any new borrowing with multilateral organizations to parliamentary discussion.
"Given the strategic importance of this agreement for Argentina, I want to announce that in the coming days I will ask Congress to support the Government in this new agreement with the International Monetary Fund," the president stated five days ago.
He concluded: "This new agreement will provide us with the tools to pave the way toward a freer and more efficient exchange rate scheme for all our citizens and to attract greater investments that translate into lower inflation, greater growth, and employment levels, with the consequent better wages that imply fewer poor and indigent people."
The International Monetary Fund (IMF) stated today that Argentina will be able to access the additional disbursements established in the future agreement, even if the program doesn't obtain support in Congress or isn't addressed in Parliament.
"Securing Congress's support is a decision for the authorities as established by Argentine domestic legislation. Meanwhile, of course, as I just pointed out, broad political and social support can enhance the program's implementation," explained Julie Kozack, IMF's communications director.
"Questions related to the specific process for achieving or seeking Congress's support should really be directed to the Argentine authorities because it's a matter of domestic law," explained Julie Kozack, IMF's communications director.
Additionally, she added: "From our side, as I noted, negotiations continue constructively. In terms of the process from the IMF's side, once negotiations are completed, as with any IMF program or proposed program, the final agreement, the documents will require the approval of the IMF's Executive Board."
Julie Kozack's statements clear the only political uncertainty remaining in Javier Milei's Government. It is now completely confirmed that the Casa Rosada will have the additional disbursements, regardless of their final amount, once the IMF's board approves the so-called Staff Level Agreement (SLA).
President Javier Milei has a political advantage in his negotiation with the International Monetary Fund: he has the support of Donald Trump, who exerts influence over the organization through the Treasury Department.
A day after the meeting between Milei and Trump, the Treasury Secretary, Scott Bessent, received Argentine Economy Minister Luis "Toto" Caputo in his office, who was in Washington with the president.
