Argentina is seeking an initial disbursement of over 40% from a $20 billion program it is negotiating with the International Monetary Fund (IMF), as stated by Economy Minister Luis Caputo.
The South American nation has eliminated its fiscal deficit and reduced public spending, aiming to strengthen central bank reserves and begin lifting foreign exchange restrictions that are seen to impede business and investment.
Caputo mentioned that they have requested a higher amount than usual for the initial disbursement, which typically ranges from 20% to 30%, citing that they have met all necessary conditions.
The government and the IMF are working towards finalizing a four-year program, following a previous agreement of $44 billion signed in 2018, which still requires approval from the lender's board of directors.