The International Monetary Fund disbursed on Tuesday the first installment of Argentina's new $20 billion loan program after President Javier Milei removed most of Argentina’s strict capital and currency controls. For years, the restrictions had set the official exchange rate and barred companies and individuals from moving money freely.
After clinching the IMF deal last week, Milei felt confident enough to take the gamble of dismantling controls as he seeks to steer the nation’s notoriously volatile economy toward the revival that he promises will follow the pain of austerity.
