The International Monetary Fund has expressed approval of the Argentine government’s proposed reform of the Central Bank, which is intended to enhance its independence, according to the institution’s spokeswoman, Julie Kozack, on Thursday. The reform of the Central Bank’s charter is an integral component of the extensive financial reform agenda recently introduced by President Javier Milei’s administration. The package of reforms “supports Argentina’s efforts to durably regain market access while maintaining flexibility regarding the timing and modalities,” Kozack told. “We also support the authorities’ intention to reform the Central Bank’s charter. Such a reform would strengthen the central bank’s institutional safeguards that protect the independence of its policymaking,” she added.
Milei’s administration aims to revise the Central Bank’s charter to ensure that the institution prioritises inflation control and is more shielded from governmental influence. IMF Managing Director Kristalina Georgieva is scheduled to visit Argentina on July 28 and 29, according to Kozack. The visit is interpreted as a definitive indication of backing for Milei’s administration, which stands as one of the United States’ nearest allies in the region. “The visit reflects our close and constructive relationship with Argentina and will provide an opportunity to exchange views on the country’s progress, challenges and opportunities,” the spokeswoman said. Georgieva will engage with Milei and his economic team, along with various non-government stakeholders, she noted.
The announcement coincides with the IMF’s recent release of its latest economic outlook, which upholds its projection for Argentina’s economy to expand by 3.5 percent in 2026 and approximately 4 percent in 2027. Argentina entered into a four-year Extended Fund Facility agreement with the IMF, amounting to US$20 billion, in 2025. The government asserts that it possesses adequate funds to fulfil its debt repayments for 2026. The country continues to hold the position of the IMF’s largest debtor, having obtained the Fund’s most substantial loan to date in 2018 during the tenure of former president Mauricio Macri.