News of debt programme

Argentina pays US$2.6 billion maturity to IMF

01-11-2023 21:12 State news agency confirms Argentina's government made US$2.6-billion payment to settle maturity from record International Monetary Fund debt programme.

The IMF’s US$43-billion Argentina problem is about to get worse

06-10-2023 17:33 Geopolitics helped keep the credit flowing to Argentina. Even so, at some point the International Monetary Fund — and its biggest shareholder, the United States — might call time.

International Monetary Fund

IMF confirms Argentina asked to postpone October payments

06-10-2023 14:52 Request confirmed by the global monetary watchdog on Thursday; Government will have to pay US$3.4 billion after the election.

IMF says Argentina’s spending adds risks to US$44-billion deal

28-09-2023 15:41 “The recently adopted policy measures and announcements add to Argentina’s challenges,” IMF chief spokesperson Julie Kozack said at a press conference in Washington.

IMF says Argentina must 'contain' public spending on wages, pensions

25-08-2023 11:36 IMF statement stresses need for Argentina to "contain spending on wages and pensions."

DEBT DISBURSEMENT

IMF approves US$7.5 billion for Argentina despite missed targets

24-08-2023 01:04 Multilateral lender approves massive disbursement, extending a financial lifeline to government ahead of a tight presidential race; Sergio Massa holds talks with Kristalina Georgieva in Washington.

Government gets disbursement lifeline after Fund board approval

23-08-2023 23:02 The board decision completes the fifth and sixth reviews of the programme and enables immediate disbursement of the US$7.5-billion payment, according to an IMF statement.

Massa heads to US for talks with IMF on loans

21-08-2023 08:40 Sergio Massa will travel to the United States on Monday for talks with the International Monetary Fund on the country’s refinancing disbursements amid the peso’s devaluation.

Massa packs bags for Washington and IMF meeting

16-08-2023 13:59 Just days after being defeated by Javier Milei at the ballot box, Sergio Massa schedules visit to Washington for talks with International Monetary Fund designed to shore up Argentina's economy.

IMF MAKES CONTACT

PASO winner Milei reveals IMF contact, plans meeting

15-08-2023 16:01 International Monetary Fund officials contact libertarian’s team for talks; Last Sunday’s PASO primary winner assures that his people are open to clinching “a more aggressive fiscal programme” with the multilateral lender.

PASO PRIMARIES 20223

Milei to start talks with IMF on US$44-billion programme

15-08-2023 14:00 Javier Milei reveals his sister and campaign manager Karina received a call from IMF officials to set up a meeting following an upset victory on Aug. 13, without giving details on the still-to-be scheduled encounter.

PASO REACTION

Argentina seeks larger IMF disbursement after 18% devaluation

14-08-2023 22:16 Argentina intends to ask the International Monetary Fund to increase a disbursement planned for later this month by an unspecified amount

Argentina gets US$775-million loan from Qatar to repay IMF

04-08-2023 04:38 Argentina is paying the International Monetary Fund with help from Qatar, the latest creative accounting measure by the government intended to honour its debt obligations.

Argentina expects to reach IMF staff-level agreement Friday

17-07-2023 17:18 Officials expect to close a staff-level agreement with the International Monetary Fund by Friday after months of negotiations over the US$44-billion programme.

IMF ‘negotiating intensively’ with Argentina, says spokesperson

13-07-2023 15:02 Argentina and the International Monetary Fund are "working intensively" to reach an agreement over the fifth review of the country’s record credit programme; Economy Ministry officials head to Washington.

ELECTION 2023

Sergio Massa’s Argentina election bid puts IMF staff in a bind

08-07-2023 06:31 As government seeks new deal, October presidential vote looms; Observers worry that generous terms would aid Massa’s campaign.

Argentina to unify July IMF debt dues into single payment

06-07-2023 15:22 Economy Ministry officials postpone trip to United States for talks with International Monetary Fund as differences between both parties persist.

Argentine officials push back trip to Washington as IMF talks drag on

05-07-2023 13:03 Key Economy Ministry officials postpone trip to United States for talks with International Monetary Fund as differences between both parties persist.

Government makes IMF loan repayment partly with yuan

01-07-2023 08:36 Short on dollars, President Alberto Fernández's government has made a US$2.7-billion loan repayment to the International Monetary Fund partly using Chinese yuan.

Argentina pays IMF as negotiations to continue in Washington

30-06-2023 21:44 Government makes two payments owed to the International Monetary Fund before a Friday deadline; Senior officials Leonardo Madcur and Gabriel Rubinstein to hold discussions over a new staff-level agreement next week in Washington.

Argentina to pay US$2.7 billion as IMF negotiations continue

29-06-2023 18:22 Government set to make payment due in June to the International Monetary Fund. In order to avoid a further dollar haemorrhage, payment will be made in part in Chinese currency, with the rest from unused Special Drawing Rights.

Latin America leaders ask Biden to back Argentina in IMF talks

23-06-2023 00:47 Group of Latin American presidents urge US President Joe Biden to support Argentina in ongoing negotiations over its US$44-billion programme with the IMF.

Argentina asks IMF to postpone payments until end of month

22-06-2023 18:17 Government winks at multilateral lender, looking to smooth payments as negotiations over agreement continue; Economy Ministry sends proposal for unified payment at end of month with expectation of prompt reply.

Debt deal talks

IMF: Argentina facing ‘very complex’ economic situation

08-06-2023 16:50 Spokesperson for International Monetary Fund says multilateral lender is working “very hard” with government in Buenos Aires; Talks with President Alberto Fernández’s administration, which wants up to US$20 billion of disbursements advanced ongoing.

IMF confirms progress in Argentina programme talks

09-05-2023 10:34 International Monetary Fund spokesperson says talks with Argentina over a reformulation of its record credit programme amid historic drought are “progressing in a constructive manner.”

DEBT PROGRAMME IN DOUBT?

Argentina and IMF go back to drawing board on debt deal

27-04-2023 23:04 As an exchange rate crisis ravages the strength of the peso, spokespeople from the International Monetary Fund and the government confirm that “constructive” talks are underway to redraw terms of Argentina’s US$44.5-billion debt programme.

Kirchnerites ramp up pressure ahead of IMF talks

20-04-2023 18:22 Argentina and the IMF agree to renegotiate US$44-billion programme amid concerns over impact of drought; Interior Minister Eduardo de Pedro slams deal for creating “vicious inflationary circle” and says “everything has to be re-discussed.”

MONETARY POLICY

Central Bank lifts rate to 81% as inflation jumps

20-04-2023 15:58 Argentina's Central Bank raises its benchmark interest rate by 300 basis points to 81% in response to March inflation data.

NEIGHBOURLY INTERVENTION

Lula says IMF is choking Argentina’s economy with debt

13-04-2023 12:52 Brazil’s president claims International Monetary Fund is choking Argentina’s economy as it struggles to comply with its US$44-billion programme.

IMF board approves US$5.3-billion loan disbursement for Argentina

31-03-2023 19:48 International Monetary Fund’s executive board on Friday approved a US$5.3-billion disbursement to Argentina, a key step forward in the government’s programme that’s faced setbacks amid a worsening economic outlook.

CENTRAL BANK

Argentina raises key rate to 78% for first time since September

16-03-2023 17:43 Argentina raised its benchmark rate on Thursday for the first time since September after annual inflation surpassed 100%.

IMF DEBT REVIEW

IMF ready to ease targets after review of Argentina's debt deal

13-03-2023 21:11 International Monetary Fund confirms staff-level agreement with Argentina on fourth review of debt programme and calls for “modification of net international reserve accumulation target”; News paves way for new US$5.3-billion disbursement later this month.

Argentina to change IMF net reserve target for third time

26-02-2023 08:46 Argentina and the IMF are discussing a smaller figure for net reserve accumulation in 2023, a cornerstone of the deal seen as the only major anchor providing some stability to the economy.

DEBT DEAL

IMF board approves US$6 billion in fresh funds for Argentina

23-12-2022 00:50 International Monetary Fund announces that its board of directors has signed off on third review of Argentina's debt assistance programme and releases new US$6-billion disbursement of funds.

IMF clears way for latest US$6-billion disbursement

03-12-2022 23:17 "Prudent macroeconomic management and efforts to mobilise external financing are supporting stability," declares IMF mission team as latest staff review is signed off.

WHEN ALBERTO MET KRISTALINA

Argentina’s US$44-billion IMF deal gets latest staff approval seal

03-12-2022 08:07 Third review of nation's US$44-billion debt programme now goes to the IMF’s executive board for approval, which is expected to meet this month; Upon completion, Argentina will have access to about US$6 billion, the IMF said.

‘Doing well’ – IMF chief backs Argentina's course in meeting with president

19-09-2022 17:05 IMF Managing Director Kristalina Georgieva briefs media on “excellent” meeting with President Alberto Fernández; Reiterates praise for Economy Minister Sergio Massa, declaring: “Three ministers, one programme.”

by Rosario Ayerdi

BLOOMBERG - ANALYSIS

Argentina needs to stick to IMF agreement, says minister

11-07-2022 15:32 In her first press conference, Silvina Batakis said Argentina would continue working to balance its fiscal accounts, promote positive real interest rates, and move forward with reducing energy subsidies.

THE CHALLENGES AHEAD

New minister Batakis takes office in an Argentina full of uncertainty

07-07-2022 23:34 Silvina Batakis faces a number of key challenges and decisions; Issues like inflation, the IMF deal, the fiscal deficit and subsidies top her in-tray.

IMF ‘looking forward’ to working with Batakis at ‘difficult moment’

07-07-2022 16:06 New economy minister speaks with multilateral lender’s chief Kristalina Georgieva, who says Batakis confirmed her “commitment” to IMF refinancing programme.

IMF board approves first review of Argentina debt programme

24-06-2022 16:15 Executive board of International Monetary Fund signs off on first quarterly review, approving Martín Guzmán figures for US$44.5-billion debt programme and paying way for new disbursement of funds.

BLOOMBERG

Argentina finishes first IMF review as path to targets may shift

09-06-2022 09:07 IMF staff and Argentine authorities agree that the annual objectives established at approval of the arrangement will remain unchanged.

IMF PROGRAMME

Argentina clears first review as IMF paves way for US$4-billion in funds

09-06-2022 00:34 IMF confirms it has reached a staff-level agreement with Argentina that will unlock US$4.03 billion in funding; Multilateral lender says government “met all qualitative targets in first quarter."

IMF: Targets in Argentina’s debt deal ‘have not changed’

19-05-2022 16:09 Fund Spokesperson Gerry Rice says staff are making “good progress” in review of debt restructuring deal, but that its “objectives have not changed.”

Government trusts in recalibration as IMF audits accounts

17-05-2022 15:57 Official data revealed six percent inflation for April; Once chapter of raising public utility rates is closed, International Monetary Fund will focus on nation’s deficient accumulation of reserves.

BLOOMBERG

Argentina’s US$44-billion debt plan remains unchanged despite shocks, IMF says

26-04-2022 17:19 Targets in recently minted US$44-billion agreement will remain unchanged even as some assumptions of the programme may be revised, says IMF Western Hemisphere Director Ilan Goldfajn.