Argentine stocks experienced a surge on Thursday following rumors that the country is in discussions with the International Monetary Fund (IMF) for a new program.
This initiative aims to secure additional funding, accelerating Argentina’s departure from its stringent capital controls, as reported by Bloomberg citing a senior government official, who preferred to remain anonymous.
The official revealed that the IMF is advocating for a quicker depreciation of the Argentinian currency under its “crawling peg” system. Additionally, the Fund is urging Argentina to maintain its interest rates above the current inflation rate, which has alarmingly reached approximately 250%.
Milei Assures Exit From Capital Controls By Mid Year
In an interview with the Financial Times, Argentina’s newly-elected President Javier Milei conveyed his determination to advance reforms without the necessity for congressional approval, especially post-2025.
Milei’s strategy, as …