This archive report was first published on 5 July 2019.
Argentina is one step closer to accessing a $5.4 billion loan tranche from the International Monetary Fund (IMF) after the fund's board approved the country's fourth review on July 12, 2019.
"Argentina's economic policies are yielding results," said acting IMF chief David Lipton in a statement, highlighting the government's achievement of all agreed targets, including budget policy and social spending.
Despite high inflation, Lipton expressed optimism that it would continue to fall in the coming months, with signs of economic improvement in the second quarter.
President Mauricio Macri has faced increasing pressure over the country's struggling economy ahead of the October presidential elections.
Argentina secured a $50 billion financing package from the IMF in June 2018, with an additional $6 billion and accelerated disbursements in exchange for tougher conditions.
