President Javier Milei anticipates an announcement on a new IMF agreement by mid-April, following legislative approval of his emergency decree. The deal is expected to include grace periods exceeding four years, but specifics remain unclear. Estimates suggest potential disbursements of $5 billion to $20 billion for Argentina’s economy.
President Javier Milei has announced that Argentina is set to unveil a new agreement with the International Monetary Fund (IMF) by mid-April. According to reports from Bloomberg Línea, Milei stated this timeframe during a recent inquiry regarding the anticipated staff-level agreement with the IMF.
The timeline follows the approval of Milei’s emergency executive decree by Argentina’s lower house of Congress, which is an essential legislative process for moving forward with the new IMF deal. The Chamber of Deputies voted 129-108 in favor of the measure, with six abstentions, allowing the decree to become law as it needed approval from only one congressional chamber.
Although specific terms of the agreement have not been disclosed, the government has indicated that it will include grace periods exceeding four years for repayment. Milei’s economic team has provided minimal information, generating mixed signals about the deal’s conditions. Despite earlier claims of nearing completion, Economy Minister Luis Caputo revealed that the sum of new funds from the IMF remains unresolved.
Market watchers on Wall Street speculate that under the new deal, President Milei’s administration could receive financial disbursements ranging from $5 billion to $20 billion. This anticipated agreement represents a significant step for Argentina’s economic stability and future planning.
In summary, President Javier Milei announced that a new IMF agreement for Argentina is expected to be formalized by mid-April. This follows the recent legislative support for an emergency executive decree, which enables progress towards the deal. Although specifics are yet to be revealed, initial projections suggest the potential for substantial financial support ranging between $5 billion and $20 billion. The announcement marks a pivotal moment for Argentina as it seeks to stabilize its economy.
Original Source: batimes.com.ar
