Argentina: 2026 Article IV Consultation, Second Review under the Extended Arrangement under the Extended Fund Facility, Requests for a Waiver of Nonobservance of a Performance Criterion, Modification of Performance Criteria, and Financing Assurances Review

IMF Staff Country Reports, May 22, 2026

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Canonical URL: Argentina: 2026 Article IV Consultation, Second Review under the Extended Arrangement under the Extended Fund Facility, Requests for a Waiver of Nonobservance of a Performance Criterion, Modification of Performance Criteria, and Financing Assurances Review

The authorities continue to make progress in stabilizing the economy, although political uncertainties during 2025 temporarily slowed growth and the disinflation process.
Program performance was mixed through end-2025, with delays in reserve rebuilding interacting with political uncertainty to weigh on Argentina’s external position.
While the end-2025 fiscal targets were met, the net international reserves accumulation target was missed, largely reflecting a surge in dollarization ahead of the elections.

Near- and medium-term policy focus: securing a durable stabilization process, drawing on lessons from other successful emerging market cases.
Authorities’ commitment: maintaining stability through macroeconomic policies that appropriately balance disinflation, external sustainability, and growth objectives.
Complementary agenda: continued structural reforms aimed at boosting productivity, investment, and formal employment, while creating a more open and competitive economy.