The choice was made at the conclusion of the second analysis of a comprehensive financial aid programme worth $44 billion over thirty months, which was earlier authorised by the Fund’s committee of experts in September.
Buenos Aires will receive almost $17. 5 billion from the payment of this new tranche, which will be used to support the nation’s economic stability and sustainable growth.
IMF Managing Director Kristalina Georgieva said in a statement that in response to the market upheaval in mid-2022, the new Argentine economic team had implemented “decisive corrective actions that begin to restore trust and policy credibility.”
“Achieving the primary budget deficit goals set at 2.5% of GDP in 2022 and 1.5% of GDP in 2023.”
To control import growth, build reserves, improve debt sustainability, and lessen reliance on central bank financing of the deficit, 9 percent of GDP is required in 2023 “It was ad.
The International Monetary Fund also highlighted the fact that “This will necessitate tighter budgetary restrictions as well as more effective social and support spending.
“The agreement with the International Monetary Fund, reached in March of last year, calls for a number of actions targeted at reducing the public deficit so that it will rebalance in 2025 and controlling the chronic inflation in the nation (which will reach 50.9% in 2021 and 71.0% in July 2022).
Since the country’s return to democracy in 1983, the International Monetary Fund has reached agreements with Argentina on thirteen occasions.
Argentina receives a $3.8 billion loan tranche from the IMF.
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