Argentina’s Congress has authorized President Javier Milei to secure a new IMF loan, intended to support the central bank’s reserves and manage looming debt payments. This follows a significant outstanding debt of $44 billion to the IMF.
On March 19, 2025, Argentina’s Congress approved President Javier Milei’s request for a new loan agreement with the International Monetary Fund (IMF). This approval comes in addition to the $44 billion that Buenos Aires currently owes to the IMF. The objective of the new ten-year loan is to enhance the foreign currency reserves of Argentina’s central bank and to manage upcoming debt service obligations.
In summary, President Javier Milei’s recent approval from Congress for a new IMF loan signifies a strategic move to strengthen Argentina’s financial position amid significant existing debts. This measure is aimed at stabilizing the country’s economy by boosting foreign reserves and facilitating debt repayment.
Original Source: www.maconcountytimes.com
