IMF Greenlights $4.7 Billion for Argentina Amid Milei's Reforms
The IMF has approved the disbursement of $4.7 billion to Argentina as part of its $44 billion program, despite missed targets due to policy setbacks. The program has been extended through Dec. 31, 2024, with modifications to planned disbursements. The IMF praised Argentina's new government for taking bold actions to restore macroeconomic stability, following a recent devaluation and exchange rate realignment. The approval brings disbursements within the program to $40.6 billion, with the IMF slashing its 2024 GDP forecast for Argentina to a 2.8% contraction.