He International Monetary Fund (IMF) started negotiating with Argentina a new program financial aidbefore the end of the program this year, the organization confirmed at a press conference on Thursday.
“The authorities officially expressed their interest in reaching a new aid program. Negotiations are ongoing,” the Fund’s communications director, Julie Kozack, confirmed to the press.
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“During the last year (the first of Javier Mileywho took office in December) the Argentine authorities continued to implement their economic stabilization program, and have achieved impressive results,” he said.
The spokesperson mentioned “a visible reduction in inflation, fiscal surplus and an improvement in international (monetary) reserves”, in addition to a “recovery of activity and real wages” that is “firmly” underway. He also highlighted the growth of the Argentine economy in the third quarter, a fact that was known this week.
Argentina’s Gross Domestic Product (GDP) grew 3.9% in the third quarter of 2024 compared to the previous three months, although it fell 2.1% in the year-on-year comparison, according to the report published on Monday by the National Institute of Statistics of Argentina (INDEC). ).
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This is the first quarterly growth after three consecutive periods of decline, and the first quarterly increase in GDP since Milei took office.
“Our team continues to work constructively with the Argentine authorities to build on the progress made so far and resolve outstanding challenges,” Kozack concluded.
Milei hopes to obtain support from Trump before the IMF.