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Argentina Begins Financing Program Talks With IMF
January 24, 2025
Argentina’s Economy Minister, Luis Caputo, returned to Buenos Aires for three days of talks with the IMF team about a new financing program. Argentina is working to fulfill commitments from its $44.5bn 2018 deal with the IMF and is seeking an additional $11bn in funding. The goal is to remove strict currency controls, although Caputo has downplayed expectations of immediate normalization of exchange rate access. The timeframe for a new agreement is still unclear, though IMF technicians recently signed off on an assessment of Argentina’s current program and policies. IMF Managing Director Kristalina Georgieva recently praised Argentina’s economic reforms and projected strong growth, above the global average. Earlier this week, Argentina hit a budget surplus for the first time in 14 years.
Argentina’s dollar bonds traded stable with its 3.5% 2041s at 62.4, yielding 10.7%.
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