Buenos Aires.- Argentina is getting closer to the long -awaited concretion of a loan of the International Monetary Fund (IMF) whose amount was revealed by Economy Minister Luis Caputo to placate market speculation.
Caputo said that the agreement with the IMF that is being negotiated will reach A total of $ 20,000 millionduring his speech at the XXIII Annual Conference on Insurance Regulation and Supervision in Latin America Assal Iais 2025, held in the Buenos Aires Stock Exchange.
The official was emphatic that, although several weeks could spend until Board or to the executive directory of the multilateral entity, that amount was already agreed with the IMF technical staff.
In his presentation, the minister highlighted the importance of this agreement to strengthen the reserves of the Central Bank and assured that the final figure will be formally submitted when the agreement reaches the approval phase by the IMF board.
The expectation of investors and analysts is focused on the steps that the Argentine government will take in the coming months, in the midst of pressures on the exchange market.
“We are also negotiating with the World Bank, Inter -American Development Bank (IDB) and the Development Bank of Latin America and the Caribbean (CAF, for its acronym of its old denomination, Andean Development Corporation) an additional package also of free availability, always to reinforce the reserves of the Central Bank ”, The minister added.
“When you see gross reserves today and add what is coming, the number will rise to the environment of the $ 50,000 million “he added.
Caputo explained that the dissemination of some details of the agreement with the IMF was a topic of Negotiation with the organism.
According to the minister, Speculations on the Agreement And the market pressures made it necessary to report on the agreed amount, he insisted.
In this regard, Caputo pointed out that, although the approval process has not yet been completed, from the government of Javier Milei it was considered important to clarify some fundamental aspects to reduce uncertainty.
When Caputo spoke with Kristalina Georgieva, The managing director of the International Monetary Fund (IMF), told her the need to publicize the amount, although they could miss a few weeks to summon the Board, which offered certainty to the market.
“Recall that it has been said that the IMF demanded devaluation. Some spoke of 30%, others of 7% and that the agreement was going to be $ 3,000 million. Others said $ 5,000 million. Then I said (to Georgieva) that it would be good that I can say the amount we have agreed that the staff will submit to Board’s approval, ”explained the official.
Caputo also took advantage of his intervention to clarify some misunderstandings around the rumors that had been generated in recent weeks regarding negotiation with the IMF.
In particular, he referred to speculation about a possible devaluation of the weight. “It is important to put all this in perspective. Some talked about a devaluation of 30% or even more, but those rumors have no basis,” he explained.
The head of Economy stressed that, contrary to what many feared, the agreement does not It would necessarily imply an adjustment Drastic currency, as happened in the past.
The minister also referred to political tensions that have intensified in recent weeks. According to Caputo, the criticisms and the pressure facing the government are related to an attempt to destabilize the opposition, which has organized mobilizations and has launched campaigns in the media.
“It is clear that there is an intention to destabilize the government. From the minute one there was an effort of some sectors to create chaos, ”he said. In this regard, he mentioned the recent mobilizations and the actions that some opposition legislators tried to carry out to frustrate the approval of the agreement with the IMF”, an extended facilities program (EFF, acronym in English) that is “very advanced”.
