New Extended Facilities Program Approved with the IMF

On March 10, 2025, the Executive Branch issued Emergency Decree 179/2025, approving a public credit transaction provided under the Extended Facilities Program to be entered into with the International Monetary Fund (IMF).

The new facility will have a repayment term of ten years and will be used for:

1. paying certain non-transferable notes issued by the Federal Government, beginning with those with the closest maturity (June 1, 2025) and subsequent ones in chronological order, and held by the Argentine Central Bank,
2. paying the obligations of the 2022 FMI Extended Facilities Program, the maturity of which will take place four years after the new 2025 agreement.

On March 19, 2025, the Chamber of Representatives of the Argentine Congress approved the Emergency Decree, making it final, since it had to be rejected by both chambers to be overturned. By having the approval of one of the Chambers, the rejection is no longer possible.

Through this financing, all funds not applied to pay previous IMF financing will be received by the BCRA, thus strengthening the reserves with the expectation of lowering the country risk, improving monetary and financial stability, and continuing implementing actions towards the liberalization of the exchange market to eliminate the so-called “foreign exchange trap” that affects long-term investments.