Economy Minister Luis Caputo says the Milei government has a financing plan through end-2027 without returning to international bond markets, while keeping that door open if conditions improve

South America's second-largest economy, Argentina has defaulted on sovereign debt more times than any other G20 member and is now in its 23rd IMF program since the 1950s.

Argentina's official currency, prone to recurrent devaluation crises, now under a managed crawling-band regime backed by a US$20 billion IMF program launched in April 2025.

Argentina's libertarian-anarcho-capitalist president since December 2023, Milei is running a radical austerity program that has slashed inflation and redefined Buenos Aires's ties with the IMF and Washington.

The float climbs toward the crawling-band top while reserves hit a seven-year high, the tension at the heart of the IMF program

The Fund unlocks ~$1bn and praises the disinflation, but pins a reserves floor that critics say could reignite inflation in an election year