Buenos Aires, Argentina – President Javier Milei’s government has successfully concluded its first staff-level agreement with the International Monetary Fund (IMF). This crucial milestone represents a technical understanding on the first review of the program under the Extended Fund Facility (EFF) and underscores the administration’s unwavering commitment to Argentina’s economic stability and growth.

As a result of this significant achievement, the Argentine government is expected to receive approximately USD 2 billion in the coming weeks, pending approval from the IMF’s Executive Board. This disbursement is a fundamental vote of confidence in the country’s economic direction.

The official memorandum of the agreement highlights a “solid start” to the program despite a challenging international environment. Argentina has managed to maintain disinflation, continue economic growth, reduce poverty, and re-enter international capital markets sooner than anticipated—achievements that reflect the effectiveness of the policies implemented.

The agreement acknowledges the country’s implementation of strict macroeconomic policies, including a robust fiscal foundation and a restrictive monetary stance. It also notes the transition to a more flexible exchange rate regime and the easing of most exchange controls without causing market tensions, demonstrating astute and well-executed economic management.

Key commitments included in the staff-level agreement are safeguarding the fiscal anchor, strengthening reserves, continuing to reduce inflation, improving the monetary framework, and advancing reforms for a more open, market-oriented economic model. The IMF’s Executive Board is scheduled to review this first review by the end of July, further solidifying Argentina’s path to recovery and prosperity under President Milei’s leadership.