Argentina Is Talking With IMF About New Program Outline
- Economy minister denies any negotiation with IMF at the moment
- IMF says too early to discuss specific program modalities
Javier Milei arrives to speak at the Conservative Political Action Conference in National Harbor, Maryland on Feb. 24.
Photographer: Kent Nishimura/BloombergArgentina is talking with the International Monetary Fund about the outline of a possible new program that would bring fresh cash to speed up its exit from capital controls, according to a senior government official.
The Fund is pushing the government to let the currency devalue faster under its so-called “crawling peg,” and keep interest rates above inflation, currently running around 250%, the official said, asking not to be identified discussing sensitive talks. Argentina’s government, under newly elected President Javier Milei, says it wants to get rid of the country’s capital controls, and more IMF money offers the fastest route to that.