The last Article IV Executive Board Consultation was on March 25, 2022. Listed below are items related to Argentina.
IMF Executive Board Approves 30-month US$44 billion Extended Arrangement for Argentina and Concludes 2022 Article IV Consultation
Washington, DC – March 25, 2022: The Executive Board of the International Monetary Fund (IMF) approved today a 30-month extended arrangement under the Extended Fund Facility (EFF) for Argentina amounting to SDR 31.914 billion (equivalent to US$44 billion[1], or 1000 percent of quota) and concluded the 2022 Article IV Consultation. [2] The Executive Board’s decision allows the authorities an immediate disbursement of SDR 7.0 billion, equivalent to US$9.656 billion. The EFF arrangement aims to provide Argentina with balance of payments and budget support that is backed by measures designed to strengthen debt sustainability, tackle high inflation, boost reserves, address the country’s social and infrastructure gaps and promote inclusive growth.
The authorities’ IMF-supported program, which was recently approved by the Argentine National Congress, aims to strengthen public finances and start reducing persistently high inflation through a multi-pronged strategy involving a gradual elimination of monetary financing of the fiscal deficit and an enhanced monetary and exchange rate policy framework. The program also envisages steps to strengthen the domestic peso debt market, the effectiveness of government spending, labor and gender inclusion, and the competitiveness of key sectors.
Read the full press release here.
[1] US dollar amounts have been calculated using today’s exchange rate: (SDR 0.724951/US$).
[2] Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team collects economic and financial information, and discusses with officials the country's economic developments and policies. The staff prepares a report, which forms the basis for discussion by the Executive Board.
At a Glance
- 2022 Projected Real GDP (% Change) : 4.0
- 2022 Projected Consumer Prices (% Change): 51.7
- Country Population: 46.300 million
- Date of Membership: September 20, 1956
- Article IV/Country Report: March 25, 2022
- Outstanding Purchases and Loans (SDR): 33733.57 million (March 31, 2022)
- Special Drawing Rights (SDR): 4905.6 million
- Quota (SDR): 3187.3 million
- Number of Arrangements since membership: 22