After nearly a week of meetings with Argentine officials, a team from the International Monetary Fundled by Luis Cubeddu, Deputy Director of the Western Hemisphere Department and Ashvin Ahuja, Chief of Mission for Argentina, agreed to the approval of the third revision of Argentina’s 30-month SAF agreement.
“The deal is subject to the approval of the IMF Executive Board, which is expected to meet this month. Once the review is complete, Argentina will have access to some US$6 billion (SDR 4.5 billion),” the IMF statement said.
The IMF highlighted that the quantitative performance targets were met by the end of September 2022, including the primary fiscal deficit.
The team of the entity led by Kristalina Georgieva highlighted the “strong controls on spending and actions to improve the targeting of subsidies and social assistance.”
He also highlighted that all fiscal reserve and monetary targets were met as of September 30. On the other hand, it was established that the financial market in pesos will continue to be monitored and strengthened with the necessary measures.
In the communiqué it was indicated that “despite the fact that there are still risks, significant advances have been noted since the arrival of the minister” Sergio Massa.