IMF leader Georgieva to visit Milei in Buenos Aires

International Monetary Fund (IMF) Managing Director Kristalina Georgieva is slated to visit Argentina, its main debtor, on Monday to meet with President Javier Milei.

The Washington-based institution has repeatedly voiced support for Milei, who took office in 2023 with promises to revive the economy by slashing public spending and reining in inflation.

An IMF source said Georgieva also plans to meet with Economy Minister Luis Caputo, Central Bank Governor Santiago Bausili and experts from the business world and academia.

Notably, Georgieva is also planning a visit to Vaca Muerta, a vast oil and gas production site that is key to Argentina's export economy, located about 1,200 kilometres from Buenos Aires.

Argentina's Cabinet Chief Diego Santilli confirmed the IMF chief would visit the massive shale formation.

"Kristalina Georgieva is coming. What will she be visiting? Previously, the International Monetary Fund came to discuss whether Argentina could pay its debts, what the economic plan was like; now they're going to discuss Argentina's economic development plan. Where is she going? To Vaca Muerta," the official stated.

IMF spokesperson Julie Kozack said the visit marked "an opportune time for us to take stock of the progress made under the current program with the Argentine authorities."

The visit comes at a mixed moment for Milei's economy, which has seen inflation on downward trend over the past three months – though it is still at 33.5 percent year-on-year.

But growth remains sluggish and well under the IMF's forecast of 3.5 percent in 2026, with 0.2 percent growth year-on-year. Growth was forecast to rise even higher in 2027, hitting four percent.

But in reality, consumer activity is anaemic, and debt defaults are skyrocketing.

Mortgage defaults have tripled over the past year, hitting 12.8 percent, the highest level in 20 years.

Some left-wing political parties are planning protests Monday to give Georgieva an "unwelcome" reception.

In 2025, Argentina concluded an extended fund facility agreement worth US$20 billion over four years with the IMF. In May, the IMF greenlit a US$1-billion tranche under the agreement.