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International Business Times

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AFP News

IMF Authorizes $4.7 Bn For Argentina After Milei's 'Bold' Reforms

Javier Milei International Monetary Fund Argentina Kristalina Georgieva the International Monetary Fund Economy

IMF chief Kristalina Georgieva has praised the Milei government's 'bold actions to restore macroeconomic stability and... address long-standing impediments to growth' (Credit: AFP)

The International Monetary Fund on Wednesday approved a fresh $4.7 billion for Argentina, praising the new administration of President Javier Milei as he enacts "bold" cost-cutting to bring the country's ailing economy back on track.

The new disbursement -- which brings to around $40.6 billion the amount sent to Argentina as part of a $44 billion aid program -- is intended "to support the new authorities' strong policy efforts to restore macroeconomic stability," the IMF said in a statement.

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