Argentina Secures $42 Billion Aid Package to Stabilize Economy

The IMF, World Bank, and IDB provide critical financial support as President Milei implements sweeping reforms to combat inflation and restore growth.

• Argentina has received an unprecedented $42 billion international aid package, including $20 billion from the IMF, $12 billion from the World Bank, and $10 billion from the Inter-American Development Bank.
• The IMF has disbursed an immediate $12 billion tranche, with an additional $2 billion scheduled for June, marking a significant step in stabilizing Argentina's economy.
• Key monetary reforms include a floating exchange rate for the peso and the removal of a $200 monthly cap on individual dollar purchases, aimed at restoring normal economic functioning.
• President Javier Milei has positioned the aid package as central to his reform agenda, emphasizing its role in rebuilding central bank reserves and curbing inflation, which remains high at 55.9% annually.
• This is Argentina's 23rd agreement with the IMF since 1956, highlighting the country's chronic reliance on international loans amidst ongoing debt challenges.

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