The IMF approved the technical review, and Milei and Caputo expect a disbursement of US$2 billion.

The International Monetary Fund ( IMF ) confirmed this Thursday that it successfully completed the first technical review of the economic program agreed upon with Argentina . With this, the Executive branch hopes to release a new disbursement of US$2 billion in early August, amid the government's focus on consolidating exchange rate stability , just ahead of the legislative elections.

The economic team led by Luis Caputo considers this approval from the international organization crucial, as the inflow of foreign currency would strengthen the Central Bank's reserves and sustain the current system while an electoral period approaches.

In a statement, the organization announced it had reached an agreement on this first review of goals with Argentina's economic team, news that was eagerly awaited by the financial market. This is the first review of Argentina's economic reform program, which was signed for a 48-month period for a total of US$20 billion, of which US$12 billion has already been disbursed.

The organization said that, subject to the approval of the IMF's Executive Board, Argentina would have access to approximately US$2 billion. The Fund emphasized that, despite a more challenging external environment, the economic program led by Minister Caputo had a "solid" start , and highlighted the "solid fiscal anchor and strict monetary stance."

"The transition to a more flexible exchange rate regime and the elimination of most exchange controls has proceeded in an orderly manner, despite a more challenging external environment," IMF staff noted. They also noted that "the official exchange rate has remained near the midpoint of the band, the disinflation process has resumed, economic expansion has continued, and poverty has continued to decline."

Furthermore, they highlighted that Argentina managed to return to international capital markets "ahead of schedule," considering the peso-denominated bond scheme with dollar subscription (Bonte 2030) launched by Argentina in June. The Fund also emphasized that "understandings were reached on policies aimed at safeguarding compliance with the fiscal anchor, rebuilding reserves, sustainably reducing inflation, and continuing to improve the clarity and functioning of the monetary framework."

He assured that this approach will be complemented by new measures to move toward a more open, resilient, and market-based economy. "The IMF staff appreciates the authorities' continued commitment to the program. The Executive Board meeting to discuss the first review is expected to take place at the end of July," the statement said, according to Noticias Argentinas.