Argentina
The IMF begins a new review of the agreement with Argentina and assesses releasing about US$900 million
A mission from the organization will arrive in Buenos Aires on Monday to move forward with the third review of the program. The analysis will focus on fiscal targets and reserve accumulation.
A delegation from the International Monetary Fund will arrive in Argentina on Monday to launch the third review of the country’s current agreement, a process that could pave the way for a disbursement of around US$900 million.
According to Todo Noticias and Radio Mitre, the mission will be led by Joyce Wong and will first have to carry out technical talks before any eventual approval is placed in the hands of the organization’s Executive Board.
That amount is part of the US$1,900 million scheduled for 2026. In May, the IMF board had already authorized an immediate transfer of nearly US$1,000 million, leaving about US$900 million pending, equivalent to 636 million Special Drawing Rights.
The review will use data through the end of the second quarter as its reference point. The focus will be on two program variables: the fiscal result and the accumulation of international reserves.
According to the published material, the annual target agreed with the Fund sets a primary surplus of 1.4% of GDP. The government, for its part, projects in the 2027 budget that 2026 will close with a primary result of 1.5% of GDP and a positive financial result of 0.2%.
At the same time, the media reported that the Executive Branch did not meet the fiscal target for the first half of the year, so that performance will be part of the talks with the technicians. Among the factors mentioned are tax revenue, tax cuts and changes in the tax revenue calendar.
On the external front, the Central Bank bought more than US$14,000 million so far this year and exceeded the gross foreign-currency purchase target set in the program. However, both Todo Noticias and Radio Mitre stressed that for the IMF, the evolution of net reserves computable under the agreed methodology is key.
The visit will coincide with Javier Milei and Luis Caputo’s trip to New York to take part in the United Nations General Assembly. In addition, toward the end of next week, Argentina must face a payment due of nearly US$800 million to the Fund.
Sources
About this note. Written by El Notero with the assistance of artificial intelligence, based on what was published by the cited media outlet. El Notero did not do its own reporting on this event.
