The Board of Directors of the Monetary Fund will analyze next Wednesday,
January 31,
the technical agreement reached with Argentina within the framework of the seventh review of the Extended Facilities Program, official sources reported this afternoon.
It is expected that at that meeting the board's formal approval will be given to the agreement reached two weeks ago, which will allow the organization's disbursement of US$4.7 billion
to be immediately released .
This amount
It will be used to pay commitments from December to April with the Fund itself.
On January 10, the Minister of Economy, Luís Caputo, announced that it was possible to "refloat the Expanded Facilities Agreement, which was down, with the International Monetary Fund," as reported at the time.
The official stressed that it was not "a new agreement."
From this negotiation, Argentina would be in a position to receive disbursements
"to pay the capital maturities corresponding to December, January and April."
On February 1, the Government must cover an interest maturity of
US$ 830 million.
15 days ago, Caputo revived the program that had fallen during the administration of his predecessor, Sergio Massa, and reached a technical agreement with the IMF, by which he committed to achieving a
primary surplus of 2% of GDP and purchasing
US$10,000 million reserves in 2024.
In exchange for advancing the adjustment plan, "Argentina would have access to nearly US$4.7 billion, subject to board approval," the Fund reported at the time.
That time, in a press conference held at the Palacio de Hacienda, together with the president of the Central Bank, Santiago Bausili, Minister Caputo said that "now the IMF staff is going to send the decision to the board with the new goals subject to the approval of the Board of Directors, with a disbursement of 4.7 billion dollars".
In this context and days after the announcement of the agreement, IMF spokesperson Julie Kozack, through a press release, highlighted that Argentina began to apply
"an ambitious stabilization plan"
and that the organization trusted that the government by Javier Milei continues to "generate political support" to be able to advance in "key aspects" of the Omnibus law that is being debated in Congress.