## IMF Staff Statement on Argentina

_IMF News, January 28, 2022_

## Source details

**Canonical URL:** [IMF Staff Statement on Argentina](https://www.imf.org/en/news/articles/2022/01/28/pr2218-argentina-imf-staff-statement-on-argentina)

## Other formats

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## Bibliographic details
- Published: January 28, 2022

---

### Overview
- Press Release No. 22/18
- Date: January 28, 2022
- Issued by: IMF Communications Department, MEDIA RELATIONS
- Press Officer: Maria Candia
- Phone: +1 202 623-7100Email: MEDIA@IMF.org
- IMF team led by Julie Kozack, Deputy Director of the Western Hemisphere Department, and Luis Cubeddu, mission chief for Argentina.
- Statement summary: IMF staff and the Argentine authorities have reached an understanding on key policies as part of their ongoing discussions of an IMF-supported program.

### Fiscal consolidation and spending priorities
- Agreement on a fiscal consolidation path that will form a key policy anchor of the program.
- The agreed fiscal path would:
  - gradually and sustainably improve public finances;
  - reduce monetary financing;
  - allow for spending increases on infrastructure and science and technology;
  - protect targeted social programs.
- Agreed that a strategy to reduce energy subsidies in a progressive manner will be essential for improving the composition of government spending.

### Monetary policy framework
- Understanding reached on a framework for monetary policy implementation as part of a multipronged approach to addressing persistent high inflation.
- The framework aims to deliver positive real interest rates to support domestic financing and strengthen stability.

### External support and growth
- Agreement that additional financial support from Argentina’s international partners would help bolster the country’s external resilience, and its efforts to secure more inclusive and sustainable growth.

### Next steps and approvals
- IMF staff and the Argentine authorities will continue their work in the coming weeks towards reaching a Staff-Level Agreement.
- Final agreement on a program arrangement would be subject to approval of the IMF's Executive Board.

*IMF Staff Statement on Argentina, January 28, 2022.*

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## References

- [Argentina and the IMF](http://www.imf.org/external/country/ARG/index.htm)
- [Press Releases](https://www.imf.org/en/news/searchnews)
- [PRESS CENTER](http://presscenter.imf.org/)
- [https://www.imf.org/en/home](https://www.imf.org/en/home)

_Source: https://www.imf.org/en/news/articles/2022/01/28/pr2218-argentina-imf-staff-statement-on-argentina_