Argentina and the IMF: Can This Marriage Be Saved?

[MikeYoung]

It is hilarious reading some of the responses to this woman from the IMF that said she had a good meeting with Milei. Is the IMF actually going to give the funds? They keep posting over and over how the meetings are going well and then never had over the money.

 

[BA Bound]

It is hilarious reading some of the responses to this woman from the IMF that said she had a good meeting with Milei. Is the IMF actually going to give the funds? They keep posting over and over how the meetings are going well and then never had over the money.

The rug pull to Milei's millions of followers probably didn't help. Now he is illegally trying to put people on the Supreme Court. Doubt any of these things are helping his cause at all.

 

[Vero]

The rug pull to Milei's millions of followers probably didn't help. Now he is illegally trying to put people on the Supreme Court. Doubt any of these things are helping his cause at all.

I don't agree with what he is doing with the Supreme Court judge. We have rules and laws and we can't complain about Cristina and allow Milei to do unconstitutional things. I worry for the future.

The IMF for over a year say the talks are going well but they have not announced money yet. I wonder how long this can go on.

 

[Cardiac Arrest]

Milei keeps saying the IMF funds are coming soon. Been saying that for a year now. When will it come? What is the delay???

In address to Congress, Argentine president promises IMF deal, lauds economic wins

Revisiting the economic themes of his 2023 presidential campaign ahead of crucial midterm elections in October, Milei declared: 'We went from talking about hyperinflation to talking about long-term stability'

www.voanews.com

 

[BuySellBA]

The IMF funds are close to coming and once they do you will see an explosion of euphoria.

 

[Nasdaq]

The IMF funds are close to coming and once they do you will see an explosion of euphoria.

Things sure changed quickly once Trump reiterated that he will impose tariffs. If he really does it there will probably be a recession.

They must be close as he is going to ask Congress to agree which the IMF requires so it must be close.

President to seek Congress support for IMF deal ‘in coming days’

Milei’s request to Congress is a key step because IMF agreements are required by law to be approved by legislative branch to be enacted.

www.batimes.com.ar

 

[Uncle Wong]

Interesting article on Milei and the IMF.

Chainsaws, Chaos, and Javier Milei: How IMF Meddling and Hubris Fueled Argentina’s Reality TV Presidency - UNICORN RIOT

In Buenos Aires, Javier Milei, a fiery congressman with a penchant for theatrics and unfiltered invective, delivered his bombastic address on live television. Clad in his signature leather jacket and gesturing wildly, Milei railed against the political elite, vowing to obliterate the “parasitic...

unicornriot.ninja

 

[earlyretirement]

Sounds like some big $$$$ is coming soon.

According to UBS strategists, the International Monetary Fund (IMF) could provide Argentina with a new program worth up to $20 billion.

This new program would cover both principal and interest payments to the IMF during the remainder of President Javier Milei's term. The UBS analysts expect that at least 30% of the new package would be made available this year, based on past IMF deals.

While the specific breakdown of $12 billion for loan principal repayment and $8 billion in "new" funding is not explicitly mentioned in the search results, the overall figure of up to $20 billion aligns with the UBS projection.Argentina has a history of significant IMF support, including a $57.1 billion loan agreement in 2018, which was the largest in the Fund's history at that time.

The current discussions for a new program come as Argentina continues to face economic challenges and seeks to stabilize its economy.

 

[Jenn]

Why does the Central Bank buy a few million dollars every day and then friday they sold almost half a billion dollars in dollars? Help someone that does not understand anything understand this?

 

[Finance Prof]

Why does the Central Bank buy a few million dollars every day and then friday they sold almost half a billion dollars in dollars? Help someone that does not understand anything understand this?

They don't want to have to sell their dollars but they are forced into it when locals are all rushing to buy dollars. That big move yesterday signals that people are going to get out of their carry trade positions. Things can move quickly once rumors spread. Usually they can't keep it a secret and word travels fast.

 

[Uncle Wong]

But would the USA really force Argentina to severe ties with China? This seems totally unrealistic. And would Argentina do it? If the IMF funds don't come sounds like it is lights out.

US may withdraw support for Argentina if it continues accord with China

The US conditions its support for Argentina's $20 billion IMF loan on President Javier Milei ending a currency swap agreement with China.

cryptoslate.com

 

[earlyretirement]

Washington, DC: IMF staff and the Argentine authorities have reached a staff-level agreement on a comprehensive economic program that could be supported by a 48-month arrangement under the Extended Fund Facility (EFF) totaling US$20 billion (SDR 15.267 billion or 479 percent of quota), subject to approval by the IMF Executive Board.The agreement builds on the authorities’ impressive early progress in stabilizing the economy, underpinned by a strong fiscal anchor, that is delivering rapid disinflation and a recovery in activity and social indicators. The program supports the next phase of Argentina’s homegrown stabilization and reform agenda aimed at entrenching macroeconomic stability, strengthening external sustainability, and unlocking strong and more sustainable growth, while also managing the more challenging global backdrop.The IMF Executive Board is expected to consider the proposed arrangement in the coming days.

IMF Reaches Staff-Level Agreement with Argentina on a 48-Month Extended Fund Facility (EFF)

IMF staff and the Argentine authorities have reached a staff-level agreement on a comprehensive economic program that could be supported by a 48-month arrangement under the Extended Fund Facility (EFF) totaling US$20 billion (SDR 15.267 billion or 479 percent of quota), subject to approval by...

www.imf.org

 

[Larry]

But would the USA really force Argentina to severe ties with China? This seems totally unrealistic. And would Argentina do it? If the IMF funds don't come sounds like it is lights out.

US may withdraw support for Argentina if it continues accord with China

The US conditions its support for Argentina's $20 billion IMF loan on President Javier Milei ending a currency swap agreement with China.

cryptoslate.com

They can't. Argentina is too in bed with China now.

Today Caputo all but admitted this is unsustainable the exchange rate.

Caputo reconoce que el actual sistema cambiario no es "consistente" ni "sostenible"

En medio de la discusión con el FMI por el régimen cambiario, el ministro hizo una llamativa afirmación en el comunicado sobre la renovación del swap.

www.lapoliticaonline.com