President Javier Milei stated that Argentina’s agreement with the IMF will be finalized by mid-April. The lower house of Congress approved an emergency decree necessary for this deal with a vote of 129-108. No specific details have been released, but a grace period on repayments has been confirmed, with estimates of new fund disbursements ranging from $5 billion to $20 billion.
Javier Milei, President of Argentina, announced that a new agreement with the International Monetary Fund (IMF) will be finalized by mid-April. This timeline was confirmed while discussing the ongoing negotiations for a staff-level agreement between Argentina and the IMF, according to Bloomberg Línea.
The announcement follows a recent vote in Argentina’s lower house of Congress, which endorsed an emergency executive decree essential for solidifying the new IMF deal. The Chamber of Deputies approved the decree with a 129-108 vote, and six lawmakers abstained, allowing it to become law with the approval of just one congressional chamber.
Details of the new deal remain undisclosed; however, the government has stated that Argentina will benefit from a grace period on repayments extending over four years. Despite earlier comments indicating that only minor details were pending, Economy Minister Luis Caputo admitted that the amount of new funds from the IMF has not yet been determined.
Wall Street analysts speculate that under the new agreement, Argentina might secure disbursements in the range of $5 billion to $20 billion, although specifics about the deal are still unclear.
In conclusion, Argentina’s agreement with the IMF is expected by mid-April, following Congressional approval of an emergency decree. While the government indicates a grace period on repayments, the specific details and funds to be granted remain unconfirmed. Market speculation anticipates substantial financial support from the IMF, emphasizing the importance of a timely resolution for Argentina’s economic situation.
Original Source: batimes.com.ar
