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Bond Market News
Argentina-IMF Reach $20bn 48-Month EFF Deal, Dollar Bonds Rally
April 9, 2025
The IMF reached a staff-level agreement with Argentina for a 48-month extended fund facility (EFF) worth $20bn. This deal, which is pending approval by the IMF’s executive board, aims to stabilize Argentina’s economy, which has seen progress due to fiscal policies leading to rapid disinflation and improved economic and social indicators. The agreement is crucial for Argentina to ease investment restrictions, bolster its foreign currency reserves, and address high inflation. The IMF noted that the amount of the first disbursement will be revealed during the board’s discussion.
Argentina’s dollar bonds were higher across the curve, with its 5% 2038s up 6 points to 61, yielding 9.1%.
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