Lots of Advice, but No Fresh Money From the IMF

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Lots of Advice, but No Fresh Money From the IMF

First week
February 2024

As expected, the Fund's Board of Directors approved the review of Argentina's program, although it made it clear that Massa failed to meet all goals. The IMF applauds the fiscal effort promised by the government, understanding that it is the anchor of the program. It is also clear that a large part of the deficit reduction is based on transitory taxes, such as the PAIS tax on dollar purchases, and that the best way to consolidate the initial adjustment will be evaluated later.