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The International Monetary Fund (IMF) has approved a staff-level agreement to send approximately $800 million to Argentina to help refinance the country's debts. President Javier Milei is seeking a new program with more funding than the current $44 billion agreement from 2018. Milei's economic program has reduced monthly inflation for five consecutive months, but Argentina is still facing a potential recession. Milei plans to meet with IMF Managing Director Kristalina Georgieva to discuss the new program at the Group of Seven summit in Italy. Additionally, China has renewed a portion of a currency swap line with Argentina, and senators in Buenos Aires have passed the majority of Milei's economic reforms. [Extracted from the article]

President Javier Milei of Argentina will meet with the head of the International Monetary Fund (IMF), Kristalina Georgieva, during the Group of Seven summit in Italy. Argentina is seeking new funds to lift capital controls and Milei wants to begin negotiations on a new IMF program to build up reserves. The IMF's executive board will vote on the latest review of Argentina's $43 billion program before the meeting. Milei will also hold bilateral talks with French President Emmanuel Macron and deliver a speech on artificial intelligence at the G-7 summit. [Extracted from the article]

Argentina is in talks with the International Monetary Fund (IMF) about the possibility of a new program that would provide financial assistance to help the country remove capital controls. The IMF is urging the government to devalue its currency more quickly and maintain interest rates above inflation. Argentina's newly elected President, Javier Milei, wants to eliminate capital controls, and obtaining more IMF funding is seen as the fastest way to achieve this. However, Argentina's Economy Minister, Luis Caputo, denied that negotiations with the IMF are currently taking place. Argentina is facing economic challenges, including a shrinking economy and high inflation rates, and already owes the IMF $44 billion from a previous program. [Extracted from the article]

Argentina is in talks with the International Monetary Fund (IMF) to outline a new program that would provide financial support to help the country remove capital controls. The IMF is urging Argentina to devalue its currency more quickly and maintain interest rates above inflation. The newly elected President, Javier Milei, is facing economic challenges, including a shrinking economy and high inflation. Argentina currently owes the IMF $44 billion from a previous program. [Extracted from the article]

Argentina is in negotiations with the International Monetary Fund (IMF) for a new aid program to help speed up its exit from capital controls. The IMF is urging the government to devalue its currency faster and maintain interest rates above inflation. The newly elected President, Javier Milei, aims to eliminate capital controls, and securing more IMF funding is seen as the quickest way to achieve this. However, Milei faces challenges as the economy is contracting and prices are rising. Argentina currently owes the IMF $44 billion from a previous program. [Extracted from the article]

Luis Caputo, the former central bank chief of Argentina, has reached a staff-level agreement with the International Monetary Fund (IMF) to salvage a $44 billion aid program. This agreement is crucial for Argentina to receive a $4.7 billion IMF disbursement needed to repay debts. Caputo, who was appointed by President Javier Milei, believes that resolving the country's financial problems is the most viable alternative. The IMF praised Caputo's efforts but acknowledged that the path to stability will be challenging. This marks a turnaround for Caputo and the IMF, as they had previously clashed over how to manage Argentina's currency. [Extracted from the article]

Argentine President-elect Javier Milei recently met with US officials, including National Security Advisor Jake Sullivan, as well as top officials from the National Security Council and the State Department. The meetings were organized to discuss Milei's economic plan and to seek support for fixing Argentina's crisis-torn economy. Milei's team also held discussions with the International Monetary Fund (IMF) and the Treasury Department to reset Argentina's $43 billion loan agreement with the IMF. The US is growing concerned about China's influence in Argentina, which has provided funds to help the country through its economic crisis. Milei's team sees support from the US and IMF as crucial for a smooth transition to leadership and to avoid further economic and political challenges. Milei has proposed "shock therapy" for Argentina's economy, including spending cuts and privatization of state-run companies. He has also brought on economic adviser Luis Caputo, a Wall Street veteran, to lead the economic transition team. [Extracted from the article]

Argentine President-elect Javier Milei has traveled to the US for meetings with officials from the International Monetary Fund (IMF) and the Biden administration. Milei aims to gain support for Argentina's struggling economy and discuss the nation's $43 billion loan agreement with the IMF. He plans to implement "shock therapy" measures, including spending cuts and privatization, to combat hyperinflation. Milei also intends to strengthen diplomatic ties with the US and Israel while cooling relations with China. [Extracted from the article]

President-elect Javier Milei plans to address urgent economic issues in Argentina by calling congress into an extraordinary session and sending a package of reforms on December 11, the day after his inauguration. He aims to stabilize the economy by solving the central bank's problems and halting monetary emission that causes inflation. Once public finances and the central bank balance sheet are in order, Milei intends to lift capital controls and unify the country's exchange rates. The positive market reaction to Milei's win has emboldened him to pursue his agenda of fiscal adjustment, although spending cuts may have a painful impact on the population. Milei is currently on a trip to the US to meet with officials from the Treasury, the White House, and the International Monetary Fund. He is also seeking a rollover of Argentina's debt repayments to the IMF to address the damaged accord. Milei's priority is to avoid hyperinflation and he is committed to utilizing all available tools to find a solution. [Extracted from the article]

(Bloomberg) -- Economics says it's way past time for the International Monetary Fund to pull the plug on Argentina. The country's current debt pile to the IMF isn't primarily a consequence of the Fund deciding to lend lots of money to the left-of-center government of Fernandez and Massa. [Extracted from the article]

(Bloomberg) -- The International Monetary Fund will allow Argentina to intervene in currency markets if the peso drifts above or below a certain range, a key policy change as the $44 billion program faces rising uncertainty before October presidential elections. Massa added Argentina would receive another IMF disbursement in November of about $2.75 billion pending another staff-level agreement and board approval. [Extracted from the article]

The August disbursement will be used to pay back the IMF from a previous bailout as well as other lenders that helped Argentina make some IMF payments. (Bloomberg) -- The International Monetary Fund's executive board approved a $7.5 billion disbursement to Argentina on Wednesday, extending a financial lifeline to the cash-strapped government ahead of a tight presidential race. [Extracted from the article]

Argentina is set to receive a $7.5 billion disbursement by the end of August if the IMF executive board approves the country's staff-level agreement. (Bloomberg) -- Argentina's economic minister and presidential candidate Sergio Massa will travel to the US on Monday for talks with the International Monetary Fund on the country's refinancing disbursements amid the peso's devaluation. [Extracted from the article]

(Bloomberg) -- Argentina's economic minister and presidential candidate Sergio Massa will travel to the US on Monday for talks with the International Monetary Fund on the country's refinancing disbursements amid the peso's devaluation. Argentina is set to receive a $7.5 billion disbursement by the end of August if the IMF executive board approves the country's staff-level agreement. [Extracted from the article]

(Bloomberg) -- Argentina's presidential hopeful Patricia Bullrich would seek greater support from the International Monetary Fund to untangle currency controls as soon as possible if elected this year, according to one of her top advisers. Asked directly whether a reworked IMF deal under Bullrich would entail more money, Laspina replied: "It's the International Monetary Fund's decision whether it wants to support a stabilization and growth program that changes Argentina for the next 20 years.". [Extracted from the article]

A new IMF disbursement would provide South America's second-largest economy with much-needed breathing room as it heads into a presidential election, with primaries starting next month, amid deepening economic and currency crises. (Bloomberg) -- Argentina and the International Monetary Fund are planning to announce a deal by the end of the week to unlock funds needed to repay $2.6 billion in loans, according to people familiar with the situation, a move that would reassure investors of the lender's continued support for the struggling economy. [Extracted from the article]

As part of the ongoing IMF talks, two senior government officials said Argentina will on Monday roll out another temporary exchange rate for agriculture exports while raising tariffs on goods and services in a bid to preserve its central bank reserves. (Bloomberg) -- Argentina Economy Minister Sergio Massa said Sunday night that the International Monetary Fund would disburse funds to the government in August and November after a staff-level agreement of its $44 billion financing program is reached sometime this week. [Extracted from the article]

(Bloomberg) -- Centrist Argentine presidential candidate Horacio Rodriguez Larreta would cut spending by 4% of gross domestic product as part of a plan that would help cushion the decline of the country's currency, according to his top economic adviser. Read More: Argentina's Net Reserves at Record Low, Savings in the Spotlight By quickly reducing spending and gradually lifting controls, Lacunza expects Argentina's central bank to build up $100 million in foreign reserves per day. [Extracted from the article]

(Bloomberg) -- Argentine Economy Minister Sergio Massa is both running for president and renegotiating a $44 billion deal with the International Monetary Fund. Fresh aid Argentine officials and IMF negotiators are meeting in Washington this week to discuss a new staff-level agreement for the $44 billion program that is off track by all yardsticks. [Extracted from the article]

(Bloomberg) -- Argentine Economy Minister Sergio Massa is both running for president and renegotiating a $44 billion deal with the International Monetary Fund. Fresh aid Argentine officials and IMF negotiators are meeting in Washington this week to discuss a new staff-level agreement for the $44 billion program that is off track by all yardsticks. [Extracted from the article]

(Bloomberg) -- The Biden administration would support speeding up disbursements from Argentina's $44 billion program with the International Monetary Fund, if the nation's authorities can successfully negotiate a new schedule with the lender, according to US officials familiar with the matter. Argentina is the IMF's largest borrower and it has a complicated history with the fund after 22 different programs in close to 70 years did little to fix a crisis-prone economy. [Extracted from the article]

(Bloomberg) -- The Biden administration would support speeding up disbursements from Argentina's $44 billion program with the International Monetary Fund if the nation's authorities can successfully negotiate a new schedule with the lender, according to US officials familiar with the matter. Argentina is the IMF's largest borrower and it has a complicated history with the fund after 22 different programs in close to 70 years did little to fix a crisis-prone economy. [Extracted from the article]

Read More: Argentina Brings Back Exchange Rate That Led to IMF Exception "Continued decisive policy implementation remains essential to further reduce macroeconomic imbalances, especially in the context of a more challenging external and domestic backdrop", the IMF added. (Bloomberg) -- Argentina reached an agreement with staff from the International Monetary Fund on the third review of its $44 billion program even as the Washington lender warned against temporary currency policies. [Extracted from the article]

Georgieva congratulated Massa, who took over six weeks ago, for the "strong steps" he's taken to stabilize Argentina's economy and "his clear intention to mobilize external support", according to a statement on Monday. (Bloomberg) -- Argentine Economy Minister Sergio Massa won praise from International Monetary Fund Managing Director Kristalina Georgieva as he capped a week-long trip to the US aimed at securing the lender's support in a review of a $44 billion loan-program. [Extracted from the article]

Kirchner hasn't yet said anything about the new minister, raising questions about whether Batakis has any more authority than Guzman had to comply with the IMF deal. "Without that, I doubt that the IMF will be willing to continue supporting Argentina -- a devaluation and simplification of the exchange system", said Claudio Loser, an Argentine economist who served as the IMF's western hemisphere director in the 2000s. [Extracted from the article]

"Without that, I doubt that the IMF will be willing to continue supporting Argentina -- a devaluation and simplification of the exchange system", said Claudio Loser, an Argentine economist who served as the IMF's western hemisphere director in the 2000s. Kirchner hasn't yet said anything about the new minister, raising questions about whether Batakis has any more authority than Guzman had to comply with the IMF deal. [Extracted from the article]

Argentina's dollar bonds due in 2030 and 2035 are both down this year to 33 and 30 cents, respectively, little changed since just before the IMF deal was agreed. (Bloomberg) -- It is a sign of how bad things are in Argentina that an accord for billions of dollars in extra loans from the International Monetary Fund hardly caused a ripple in the bond market. [Extracted from the article]

"IMF staff and the Argentine authorities have reached agreement on a pragmatic and realistic program, with credible economic policies to strengthen macroeconomic stability and to address Argentina's deep-rooted challenges to sustainable growth." Read More: Argentina Says It Overcame Energy-Fee Hurdle in IMF Agreement Argentina's short-dated dollar-denominated bonds edged up after the announcement but ended the day little changed, with the nation's $16 billion in securities due 2030 climbing to 31.45 cents on the dollar. (Bloomberg) -- Argentina inked an agreement with the staff of the International Monetary Fund on a new program Thursday, a key step toward finalizing a $45 billion deal after almost two years of negotiations. [Extracted from the article]

Here's a look at the criteria and how Argentina fits them: 1) Budget needs The first criteria, which is that a country has a large balance of payments needs, is one that IMF staff and board members alike agree the country meets. Argentina's IMF Deal Will Test "Exceptional" Criteria Limits (Bloomberg) -- As the International Monetary Fund staff and Argentina advance on talks for a new agreement, the lender's board is closely following whether the country meets four key criteria that would allow it to receive a large loan. [Extracted from the article]

How Argentina's IMF Deal Will Test "Exceptional" Criteria Limits (Bloomberg) -- As the International Monetary Fund staff and Argentina advance on talks for a new agreement, the lender's board is closely following whether the country meets four key criteria that would allow it to receive a large loan. Here's a look at the criteria and how Argentina fits them: 1) Budget needs The first criteria, which is that a country has a large balance of payments needs, is one that IMF staff and board members alike agree the country meets. [Extracted from the article]

(Bloomberg) -- Argentina's government announced Jan. 28 the outlines of an initial agreement with the International Monetary Fund, but there's still plenty of obstacles to overcome before sealing the deal. Read More: Argentina Seeks to Reach an IMF Staff Agreement Before March Currency Policy Fernandez emphasized there won't be a devaluation as part of the preliminary accord reached with the IMF, with Economy Minister Martin Guzman adding that Argentina will continue with the government-administered currency policy in place. [Extracted from the article]

(Bloomberg) -- Argentina's tentative agreement with the International Monetary Fund suffered an early setback Monday when the ruling coalition's leader in the lower house resigned in protest over the deal announced by the government last week. Read More: IMF Payment Deepens Divide Within Argentina's Ruling Bloc (Adds President Fernandez's response to Maximo Kirchner's resignation in fifth paragraph) ©2022 Bloomberg L.P. [Extracted from the article]

The outspoken resignation threatens to trigger a political crisis within the broad coalition that underpins the government of President Alberto Fernandez on top of imperiling Argentina's negotiations with the IMF. (Bloomberg) -- Argentina's tentative agreement with the International Monetary Fund suffered an early setback Monday when the ruling coalition's leader in the lower house resigned in protest over the deal announced by the government last week. [Extracted from the article]

(Bloomberg) -- Argentina posted its fastest monthly inflation rate in eight months on Thursday, complicating the path to deliver a stability plan as part of negotiations with the International Monetary Fund. Argentina's strategy to cool inflation -- with tight currency controls and price freezes -- is a central part of negotiations with the IMF to reschedule payments on about $40 billion due to the lender. [Extracted from the article]

The strategy shift after 13 months of unchanged borrowing costs comes with the IMF calling last week for the country to adopt an "appropriate monetary policy", including interest rates that exceed inflation. Argentina's central bank is weighing its first interest rate increase in over a year as it seeks to bring borrowing costs closer to inflation amid talks with the International Monetary Fund over a new financial program. [Extracted from the article]

The strategy shift after 13 months of unchanged borrowing costs comes with the IMF calling last week for the country to adopt an "appropriate monetary policy", including interest rates that exceed inflation. Argentina's central bank is weighing its first interest rate increase in over a year as it seeks to bring borrowing costs closer to inflation amid talks with the International Monetary Fund over a new financial program. [Extracted from the article]

(Bloomberg) -- Argentina's central bank tightened access to hard currency further, the latest attempt by the crisis-prone country to contain dwindling reserves amid growing devaluation expectations. Read More: Argentines Are Rushing for Dollars as Devaluation Bets Soar The spot peso, which is controlled by the central bank through a crawling peg, fell 0.1% on Friday to 100.8 per dollar. [Extracted from the article]

(Bloomberg) -- President Alberto Fernandez said Argentinais "absolutely" committed to reaching a deal with theInternational Monetary Fund. The country needs a reduction on the existing interestrates on its debt with the IMF as well as more time topay back the loan, Fernandez added. Argentina "Absolutely" Committed to New IMF Deal, Fernandez Says. [Extracted from the article]

All these moves mean the government will be able to double-up on its use of a single asset: SDRs will have served both to pay the IMF debt and to cancel the transitory obligations with the central bank. Keywords: 13347Z; ALLTOP; BON; BUSINESS; FRX; GLOBALMACR; GOV; LATAM; LATTOP; MARKETS; TOP; WORLD; WWTOP; WWTOPAM EN 13347Z ALLTOP BON BUSINESS FRX GLOBALMACR GOV LATAM LATTOP MARKETS TOP WORLD WWTOP WWTOPAM QZSGY8T0AFB6 (Bloomberg) -- Argentina is resurrecting a page out of former President Cristina Fernandez de Kirchner's playbook by raising money for fiscal expenses through complex accounting maneuvers and by selling bonds to the central bank that skeptics say are unlikely to ever be repaid. [Extracted from the article]

Argentina began talks last year with the IMF for a revamped program to reschedule payments stemming from a record deal granted to the previous, pro-business government of Mauricio Macri. (Bloomberg) -- The International Monetary Fund privately estimates that a deal allowing Argentina to reschedule payments on $45 billion owed to the lender will be pushed into 2022 as President Alberto Fernandez has little incentive to quickly agree on the basis of a new program. [Extracted from the article]

(Bloomberg) -- Officials at the International Monetary Fund see some benefit in delaying a $45 billion agreement with Argentina after the nation's midterm election in October, with talks yielding little progress six months after they began, according to people familiar with the situation. Argentina began in September talks with IMF officials for a revamped program to reschedule payments on $45 billion that the nation owes the lender from a previous record deal. [Extracted from the article]

(Bloomberg) -- Officials at the International Monetary Fund see some benefit in delaying a $45 billion agreement with Argentina after the nation's midterm election in October, with talks yielding little progress six months after they began, according to people familiar with the situation. Argentina began in September talks with IMF officials for a revamped program to reschedule payments on $45 billion that the nation owes the lender from a previous record deal. [Extracted from the article]

The article offers information on the international economic outlook. It mentions that 10 leading industrial nations create a special drawing rights (SDR) agreement, which calls for the activation of 9.5 billion dollars worth of SDR by the International Monetary Fund (IMF). It says that prices on goods in free market of Russia were up by 10%. Moreover, the customs regulation in Argentina requires film distributors to pay duties based on the value of the film and estimated rental income.

(Bloomberg) -- Argentina is considering using new reserves to be issued by the International Monetary Fund to make a payment due to the lender in September, according to a person with direct knowledge, a move that would allow more time to overhaul an outstanding $45 billion loan. Read More: G-20 Moves Toward Consensus on IMF Reserve Firepower Boost Fernandez's administration has previously used existing SDRs for a $305 million interest payment due with the Fund this month. [Extracted from the article]