Argentina’s Congress has approved President Javier Milei’s request for a new IMF loan, aiming to boost foreign currency reserves and manage existing debt obligations totaling $44 billion.
On March 20, 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 $44 billion that Argentina currently owes the IMF. President Milei petitioned lawmakers on March 11 to facilitate a new 10-year loan, intended to enhance the central bank’s foreign currency reserves and address impending debt obligations.
In summary, Argentina’s Congress has endorsed President Milei’s request for a new IMF loan to help stabilize the country’s economy. This marks a critical step as Argentina continues to manage substantial debt while seeking to bolster its foreign currency reserves. The loan is expected to assist in covering forthcoming payment challenges.
Original Source: www.northwestsignal.net
