IMF to visit Argentina for third review of economic program

The International Monetary Fund (IMF) will visit Buenos Aires on September 21 to begin the third review of Argentina's economic program under President Javier Milei's administration. The technical mission will meet with officials from the Economy Ministry and the Central Bank to assess compliance with targets for the last quarter, focusing on the fiscal front and reserve levels.

The Economy Ministry projected a primary fiscal surplus of 1.3% of GDP (AR$15.5 trillion, US$9.7 billion) for 2026, slightly falling short of the 1.4% target. For 2027, the budget anticipates a surplus of AR$18.4 trillion (US$12 billion) and interest payments of AR$3.3 trillion (US$2.15 billion). Notably, this review differs from the previous two, as the Central Bank has already secured the committed US$10 billion in reserves, contrasting with the earlier instances where the primary surplus target was met but the reserve accumulation target was not.

Despite not meeting the primary surplus target, Argentina will have entered the fourth consecutive year with a fiscal surplus since Milei's presidency, a significant achievement according to Economy Minister Luis Caputo. This marks the first time in history that a government has achieved this without defaulting on its debt.