Argentina’s Congress approved President Javier Milei’s request for a new IMF loan amid the $44 billion debt. The loan aims to enhance foreign currency reserves and manage upcoming debt obligations.
On March 19, 2025, Argentina’s Congress authorized President Javier Milei to negotiate a new loan agreement with the International Monetary Fund (IMF). This decision comes in light of the existing $44 billion debt that Buenos Aires currently owes to the IMF. The approval for a new loan is aimed at reinforcing the central bank’s foreign currency reserves and managing imminent debt obligations.
President Milei had previously requested legislative approval for a ten-year loan during a session on March 11. This strategic move is designed to stabilize Argentina’s economy amidst ongoing financial difficulties.
In summary, President Javier Milei has secured congressional approval for a new IMF loan, which is critical for strengthening the central bank’s reserves and addressing outstanding debt payments. This development marks a significant step in Argentina’s efforts to navigate its financial challenges while managing an extensive existing debt to the IMF.
Original Source: www.maconcountytimes.com
