The Argentine government has not yet released details of the negotiations; The country hopes to release $3.3 billion that the agency has withheld since November
Argentina reached an agreement with the IMF (International Monetary Fund) on Wednesday (January 10, 2024) on the terms of the renegotiation of the country's $44 billion debt with the IMF.
The press office of Argentine President Javier Milei said that the details of the agreement will be announced this Wednesday (January 10), once the final details have been finalized.
According to information from La Nación, as part of the agreement, the IMF agreed to release $3.3 billion to Argentina that had been blocked since November last year.
The agreement was reached by Argentine Economy Minister Luís Caputo and Civilian Minister of the House of Representatives Nicolás Posse. The representatives met with IMF envoys on Monday (January 8, 2024) at the offices of Casa Rosada, the seat of the Argentine government.
Argentina's debt to the IMF is part of a $44 billion loan taken out by former President Mauricio Macri in 2018.
In order to defuse the economic situation, in 2022, thenPresident Alberto Fernández concluded a new agreement with the institution that allowed the extension of the debt then taken on by the country. The contract also stipulates that the country will only start paying off the debt in 2026.