President Javier Milei reaffirmed this Tuesday that his government will maintain the economic plan and the exchange rate bands agreed upon with the International Monetary Fund (IMF) unchanged.
"We will not budge one inch from our economic program," the president stated in a message posted on his social media, minutes after the international organization issued a key signal of support following the electoral defeat of La Libertad Avanza (LLA) in the province of Buenos Aires.
IMF spokesperson Julie Kozack stated that the organization "is working closely with the Argentine authorities in the implementation of its program to strengthen stability and improve the country's growth prospects." She also emphasized that the Fund supports Argentina's commitment to "ensure the sustainability of the program's exchange rate and monetary framework, as well as its continued adherence to the fiscal anchor and the comprehensive deregulation agenda."
This was the Fund's first statement since the Treasury began intervening in the Single Free Exchange Market (MULC) to contain the rise of the dollar, amid lower foreign currency inflows from agricultural products and increased demand for hedges from businesses and individuals.
Milei reaffirmed the pillars of her plan on social media: “First, fiscal balance; second, a tight monetary market; and third, the exchange rate. The exchange rate bands agreed upon with the IMF will remain in place. Furthermore, we will continue to deregulate.”
On Sunday, following the electoral setback in Buenos Aires, the President had already stated that he would not change course:"We will continue to defend fiscal balance tooth and nail, maintain the exchange rate system, redouble efforts on deregulation, and improve our Human Capital policy."
The ruling party emphasizes that, despite the defeat in the Buenos Aires legislative elections, the strategy aims to consolidate macroeconomic stability, control inflation, and sustain market confidence. Within this framework, the IMF's support is interpreted as an endorsement to strengthen external credibility, one of the central pillars of Milei's administration.
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