IMF approves 4.7 billion euros for Argentina and praises bold actions

February 1, 2024

IMF chief Kristalina Georgieva praised the “bold actions” of Argentine President Javier Milei’s government when the fund approved the disbursement of $4.7 billion to support its reforms.

https://p.dw.com/p/4buCX

Javier Milei waving from a balcony — Javier Milei rode a wave of anger over Argentina’s decades-long economic crises of debt, rampant money printing, inflation and budget deficits into a resounding victoryImage: Agustín Marcarian/REUTERS

The International Monetary Fund approved on Wednesday the latest review of its US$44 billion (€40.7 billion) program with Argentina, allowing the disbursement of US$4.7 billion.

The loan supports President Javier Milei’s new government, which is implementing massive austerity measures to get the country’s struggling economy back on track.

“The new administration is taking bold steps to restore macroeconomic stability and begin to address long-standing impediments to growth,” IMF chief Kristalina Georgieva said in a statement announcing the disbursement.

She also said the “inconsistent policies of the previous government” left a “difficult legacy.”

Source: DW

Lori

Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.

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