Buenos Aires (Argentina), April 9 (LaPresse/AP) – The International Monetary Fund (IMF) has reached a preliminary agreement with Argentina for a 20 billion dollar bailout package, offering a respite to President Javier Milei. The deal still requires final approval from the IMF's executive board.
The agreement serves as a lifeline for Argentine President Milei, who has reduced inflation and stabilized the economy after years of turmoil with a tough market-based austerity program praised by the IMF. However, without the loan funds, Milei has been unable to rebuild the country’s depleted foreign currency reserves, which are needed to repay debts and lift Argentina's strict currency controls.
Argentina has received more bailouts from the IMF than any other country in the world.
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