IMF Approves $2 Billion Argentina Disbursement as Peso Falls

The International Monetary Fund’s executive board approved a $2 billion disbursement to Argentina Thursday, a key vote of confidence even as the government of Javier Milei missed a key target while the peso posted its worst month in more than a year.

The board approved the funds after IMF staff finished the first review of Argentina’s $20 billion deal, the Washington-based lender said in a statement Thursday. It brings total disbursements under the program, known as an extended fund facility, to $14 billion. However, the IMF confirmed that Argentina missed a mid-June target for building up its net international reserves at the central bank.