INSUBCONTINENT EXCLUSIVE:
aid package, paving the way for a disbursement of US$7.5 billion, amid challenging conditions due to drought.In 2022, the IMF and Argentina
commitment to increase international reserves and reduce the fiscal deficit, from 3% of GDP in 2021 to 2.5% in 2022, 1.9% in 2023, and 0.9%
in 2024.The agreement, at the technical staff level, will provide Argentina with about US$7.5 billion, subject to the government
implementing the agreed measures and the approval of the Board, meeting in the second half of August.Photo Internet reproduction.The
disbursements will be made in two installments, one in the third week of August and the other in the first week of November, declared
provide much-needed support for Massa, who accuses the opposition of attempting to obstruct the agreement, which was achieved after weeks of
greater than expected impact of the drought on exports and fiscal revenues.Despite deviations and delays in policies contributing to strong
domestic demand and a weaker trade balance, the IMF is confident that the government will apply corrective actions and meet key targets.The
agreed-upon policy aims to increase reserves over the year, with a target of accumulating net international reserves of about US$1 billion
by the end of 2023.The IMF anticipates that the Argentine government will benefit from improvements in the energy balance and the expected
recovery from the drought.The Argentine government agreed to implement the measures over the coming weeks and months, proactively adapt to
evolving external and internal conditions, and keep up with its financial obligations to the Fund.
