Argentina ought to persist in its endeavours to stabilise the economy and foster growth; however, it is imperative that the advantages are also extended to the workforce, stated International Monetary Fund spokesperson Julie Kozack on Thursday. Kozack stated that Argentina had achieved “significant progress in restoring macroeconomic stability in a very challenging environment.” The official emphasised a significant reduction in inflation, enhanced external reserves, improved fiscal discipline, and advancements toward a fiscal surplus, characterising these accomplishments as a crucial basis for sustainable growth. A technical mission led by IMF official Joyce Wong concluded its work on the third review of Argentina’s program on Tuesday, following meetings in Buenos Aires that ran from September 21 to 29, as confirmed by Kozack.
Argentina, the Fund’s largest debtor, agreed to a fresh US$20-billion, four-year lending program with the institution in 2025. IMF technicians have conducted two reviews of its implementation. “Discussions are continuing, and will continue in the coming weeks” with the aim of reaching a staff-level agreement for the third review, the spokesperson added. The subsequent phase involves the formulation of a staff report intended for evaluation by the IMF’s Executive Board. Approval would facilitate an additional disbursement of approximately $900 million. Kozack refrained from providing any commentary regarding the results of the most recent quarterly review. “There is a joint recognition between the IMF and Argentina that the work to strengthen Argentina’s resilience needs to continue,” Kozack said.
The dialogue will also focus on how to broaden the economic recovery, with growth thus far concentrated in a limited number of sectors. “It is important to ensure that growth, which has been focused in energy, mining and agricultural sectors, broadens and becomes more evenly distributed across sectors in the economy,” she said. The IMF projects that Argentina’s economy will expand by 3.5 percent in 2026. Kozack said much of the focus of the discussions was on how Argentina could “consolidate the gains from the stabilisation that has been achieved and broaden those gains across the economy.” She stated that this would necessitate increased investment to foster sustainable economic growth, generate employment, and enhance opportunities for the Argentine populace.
The IMF asserts that Argentina has achieved notable advancements in re-establishing macroeconomic stability. Milei has accomplished a fiscal surplus and has successfully decreased annual inflation from triple-digit levels at the time he assumed office in December 2023 to the current rate of 33.5 percent. However, poverty and extreme poverty experienced an uptick in the first half of 2026, reversing the trend of decline observed over the preceding two years. Critics of the Milei administration highlight the closure of approximately 30,000 businesses since the President assumed office.
