Overview
- The IMF technical mission led by Joyce Wong began work in Buenos Aires on Monday to carry out the third review of the extended financing agreement.
- The review will focus on whether Argentina met its 2026 primary surplus target of 1.4% of GDP and on the evolution of international reserves under the program's net-reserve methodology.
- Any release of about 636 million SDR (roughly US$869–900 million) is conditional on a technical agreement by staff and subsequent approval by the IMF Executive Board, not an automatic payment.
- Argentina faces a capital repayment to the IMF of about 583.3 million SDR (approximately US$803 million) due Sept. 25, which raises near-term liquidity pressure as the review proceeds.
- The central bank has bought more than US$14 billion in 2026, exceeding the program's gross purchase goal, but the IMF evaluates reserves net of liabilities and will weigh financing risks and large 2027 external amortizations in its assessment.