In a significant turn in Argentine economic policy, the Minister of Economy, Luis CaputoHe announced that the accumulation target of reservations agreed with the International Monetary Fund (IMF) will be reduced by USD 5,000 million by 2025.
The decision of Luis Caputowhich is part of a review of the extended facilities agreement signed with the multilateral body, seeks to relieve pressures on the Central Bank and adapt the currency accumulation schedule to a more realistic and compatible logic with the evolution of national macroeconomy.
During an interview on the Streaming Channel Neura Media, Caputo explained that the new scheme will allow Argentina to reintegrate into international markets more easily. “The review of the agreement is very good,” he said.
“They ask us to accumulate less during this year and more later,” said the minister, highlighting that the accumulation of reserves cannot be forced or precisely calearized, since it depends on multiple economic and financial factors.
The original program demanded that the government accumulate USD 8,900 million between March and December 2025. With the new review, that figure is reduced by USD 5,000 million, which represents considerable relief for the Central Bank coffers.
Luis Caputo He argued that this modification will be well received by the markets, since it improves the possibilities of refinancing capital maturities and facilitates the reintegration of Argentina in the global financial system.
Fiscal performance
One of the most prominent points by the minister was the government’s fiscal performance, which has managed to cancel debt capital for more than USD 54,000 million in the last 18 months. “Not only with our primary surplus we had been paying interest, but we have also paid capital, “he said.
“We have already canceled USD 54,000 million consolidated debt,” he said Luis Caputoin contrast to the indebtedness of more than USD 150,000 million that, according to him, left the previous administration. The review of the agreement also occurs in a context of high exchange volatility. In July, the official dollar climbed 13.6%, reaching $ 1,380, its maximum historical nominal.
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