The International Monetary Fund (IMF) and Argentine authorities have successfully concluded the eighth review of Argentina’s 30-month Extended Fund Facility (EFF) arrangement
The IMF staff and Argentine authorities reached a staff-level agreement on the combined fifth and sixth reviews under Argentina’s EFF arrangement. This agreement is subject to the continued implementation of agreed policy actions and approval by the IMF Executive Board, which is expected to meet in the second half of August.
Upon completion of the fifth and sixth reviews, Argentina will have access to approximately US$7.5 billion. The proposed combination of reviews and associated disbursement aims to support Argentina’s policy efforts and address the near-term balance of payments needs.
Argentina’s economic situation has become increasingly challenging due to factors such as the larger-than-anticipated impact of drought on exports and fiscal revenues, policy slippages, and delays.
Despite these challenges, the policy package agreed upon includes measures to rebuild reserves, enhance fiscal sustainability, and protect critical infrastructure and social spending.