Argentina and IMF strike staff-level deal that could unlock $900 million
SPY•Argentina and the International Monetary Fund reached a staff-level agreement that could give the country access to about $900 million, subject to remaining steps and Executive Board approval.
1. Agreement awaits approval
The IMF said the agreement still requires completion of “remaining agreed steps” before it goes to the Executive Board in early December. It marks a fresh sign of support for President Javier Milei's economic program.
2. Reserve targets and financing
Argentina's net international reserves exceeded the program's end-June target, helped by strong foreign-currency purchases by the central bank. The Treasury and central bank have taken steps to strengthen external financing and extend debt maturities, and the government has secured additional foreign funding while seeking more before year-end.
3. Program priorities
The deal follows months of talks. The IMF has stressed rebuilding reserves, reducing financing risks and maintaining fiscal discipline; it has also said Argentina made significant progress restoring macroeconomic stability, while urging continued work to strengthen resilience and broaden growth beyond energy, mining and agriculture.
