Overview
- A technical IMF mission is scheduled to be in Buenos Aires the week of September 21 to carry out the program’s third review and verify the quantitative performance criteria measured to June 30, 2026.
- The Central Bank has over‑fulfilled its FX purchase envelope, buying about USD 14.2 billion versus a USD 10 billion target, and reserve accumulation is estimated near USD 9 billion compared with the USD 8 billion program goal.
- Public finances remain the main shortfall for the agreement after Argentina recorded a 0.6% of‑GDP primary surplus in the first half, below the half‑year target of 0.7% and short of the 1.4% full‑year target.
- Financing pressure frames the review because Argentina must pay the IMF USD 803 million on Sept. 25 and faces further IMF maturities of roughly USD 840 million in early November and USD 344 million in December.
- Beyond numbers, the mission will examine structural commitments such as strengthening the central bank, tighter subsidy targeting and tax measures, and the IMF will press for reorienting growth toward construction, services and logistics as laid out after Kristalina Georgieva’s July visit.