Those funds are a condition to lift Argentina’s international exchange restrictions, the minister added. The Fund is scheduled to review Argentina’s performance on Thursday, a routine assessment countries that take loans out with the IMF are subject to. The minister added that his team has had a proposal for a new deal with the Fund since August 2023. The restrictions were imposed in 2019 by then-President Mauricio Macri amid a currency run, and reinforced over Alberto Fernández’s presidency due to a shortage of international reserves. In a report published on Friday, consultancy Ecolatina put net international reserves at US$500 million.

Source: Bueno Aires Herald June 12, 2024 11:51 UTC