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The International Monetary Fund promotes Militia: Argentina gets $800 million

The International Monetary Fund promotes Militia: Argentina gets $800 million

“The objectives achieved are progressing better than expected,” the IMF attested in its review of the debt financing programme. The only hope of getting any money back is the president’s success

Javier Maile remains unknown in many waysHowever, according to the International Monetary Fund, it exceeded the agreed upon economic goals. And then Argentina will receive $800 millionThis is when the IMF Board approves the eighth review of the debt financing program. In fact, when evaluating the economic program launched by the Argentine President in December, the International Monetary Fund announced on Monday that the Argentine executive achieved “better than expected results” in the eighth technical review of the program agreed upon for the first quarter of the year.

A memo attests that “all performance standards were exceeded.” “Agreements have been reached on policies to further reduce inflation, replenish international reserves, support the recovery and keep the program on track.” Among the results achieved, in particular, was the country’s first quarterly fiscal surplus in 16 years: 3.8 trillion pesos (about 4.25 billion dollars), equivalent to 0.6 percent of Argentine GDP. The IMF also noted that Argentine authorities have “made significant efforts to expand social assistance to vulnerable mothers and children, as well as to protect the purchasing power of pensions” and have seen progress in expanding “political and social support” for fiscal adjustment and support for social reforms. “Fighting vested interests.” Argentina received a $44 billion loan from the International Monetary Fund in 2018 under the presidency of Mauricio Macri, but failed to repay it in the agreed upon time. In March 2022, Al-Biruni succeeded him Alberto FernandezA debt refinancing agreement was signed that included targets for reducing the fiscal deficit, accumulating reserves, and cash issuance limits that were never achieved. The IMF’s only hope of recovering the money it lent to Argentina is for Miley to succeed.

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