This decision to approve the eighth review of the current aid program with Buenos Aires will bring the total payment already made under this agreement to more than 41 billion dollars.
“The council insisted on the fact that consolidating the solid progress required improving the quality of budgetary consolidation, taking steps to establish a road map with a view to improving the monetary and foreign exchange situation, and implement a structural program,” continued the international institution.
Record inflation
She stressed the need to “continue efforts to support vulnerable people, broaden political support and ensure flexible decision-making”.
Javier Milei claimed to have made “the greatest adjustment in the history of humanity” since taking office on December 10.
But the country remains faced with record inflation even if it continued to decelerate in May, to 4.2% over one month, the lowest in two and a half years. However, it remains overwhelming over one year, at 276.4%. It accelerated after the devaluation of the peso at the end of 2023. The Argentine economy is expected to contract by 2.8% in 2024, according to Fund data, after a recession of 1.6% recorded in 2023.
