Argentina Seeks $20 Billion IMF Loan to Stabilize Economy
The government faces mounting peso devaluation pressures, dwindling reserves, and growing social unrest as it negotiates international financial support.
- Argentina has requested a $20 billion loan from the IMF to recapitalize its central bank and stabilize its economy, with negotiations reportedly in advanced stages.
- The peso has faced significant devaluation pressures, with the central bank selling over $1 billion in reserves within six days to support the currency.
- President Javier Milei's administration plans to lift all currency and capital controls by the end of 2025, contingent on rebuilding foreign reserves.
- Inflation has dropped significantly under Milei's government, from 211% at the end of 2023 to 84.5% in January 2025, but economic uncertainty persists.
- Protests and strikes, including a general strike planned for April 10, highlight growing social tensions as the government implements controversial reforms ahead of October midterm elections.
