Argentine President Javier Milei met with Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), in Washington, D.C., to advance negotiations on a new economic agreement between Argentina and the IMF. Following the meeting, Georgieva praised the “significant results” of Milei’s economic stabilization and growth plan, signaling a constructive outlook for a potential new program.

Meeting Details and Key Statements

  • The meeting took place at the IMF headquarters on Pennsylvania Avenue and 19th Street and lasted one hour.
  • Georgieva stated on X (formerly Twitter):

    “Today, I received President Milei at the IMF to discuss Argentina’s stabilization and growth plan, which is delivering significant results. Our teams continue to work constructively towards a new program.”

  • Milei was accompanied by:
    • Luis Caputo – Minister of Economy
    • Karina Milei – Secretary General of the Presidency
    • Manuel Adorni – Presidential Spokesperson
    • Gerardo Werthein – Foreign Minister
  • Leonardo Madcur, Argentina’s representative on the IMF board, welcomed Milei with an embrace at the entrance.

Economic Negotiation Highlights

  • This was the second meeting between Milei and Georgieva in 30 days, focusing on confirming their positions regarding Argentina’s ongoing economic negotiations with the IMF.
  • Milei’s Approach:
    • No devaluation, despite IMF pressure.
    • Seeks a new agreement with an additional disbursement of at least $11 billion to strengthen Central Bank reserves and lift financial restrictions.
  • IMF’s Position:
    • The IMF staff, board, and Georgieva continue to advocate for a peso devaluation as a fundamental economic adjustment.

Context and Implications

This meeting follows Milei’s high-profile gathering with Elon Musk in Maryland, where they discussed international geopolitics and potential American investments in Argentina. The meeting with Musk, symbolic and strategic, was highlighted by Milei’s gift of a real chainsaw, reflecting his commitment to economic deregulation and state restructuring.

Additionally, Milei is set to:

  • Speak at the Inter-American Development Bank (IDB).
  • Meet with World Bank President Ajay Banga, who plans to visit Argentina in late March.
  • Attend the Conservative Political Action Conference (CPAC), where he will meet with Donald Trump and deliver a speech before Trump’s keynote address. This encounter is expected to reinforce their geopolitical alignment and economic collaboration.

Georgieva’s Positive Outlook and the Road Ahead

Georgieva’s public acknowledgment of the “significant results” of Milei’s economic strategy marks a notable diplomatic achievement for the Argentine President. It suggests a willingness to negotiate despite existing differences, particularly on the devaluation issue.

This optimistic tone could:

  • Boost investor confidence in Argentina.
  • Strengthen Milei’s domestic political standing as he navigates challenging economic reforms.
  • Facilitate progress towards a new IMF agreement, potentially securing the additional $11 billion sought by Argentina.