The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, highlighted the progress of the Argentine economy and celebrated the positive impact of the reforms driven by the Government of Javier Milei, as well as the strengthening of the main macroeconomic indicators.
During a press conference held alongside Luis "Toto" Caputo at the Ministry of Economy, the head of the international organization shared the meeting with members of the Argentine economic team, including Pablo Lavigne, Martín Vauthier, Felipe Núñez, the Secretary of Treasury, Carlos Guberman, and the President of the Central Bank, Santiago Bausili.
In this context, Georgieva emphasized the improvement in the country's external position and the Central Bank's policy of accumulating reserves. “Keep buying,” she stated, referring to the strategy of strengthening international reserves.
Javier Milei, Luis Caputo, and Kristalina Georgieva
During her presentation, the official was emphatic in evaluating the economic process: “Argentina is in a much stronger position and this is the result of hard work by the Government.”
In this regard, she highlighted the impact of the measures adopted by Milei, which allowed the country to move from a primary deficit to a surplus, reduce inflation, and strengthen reserves.
She detailed that the Central Bank accumulated thirty billion dollars, while the Treasury managed to place bonds in international markets for five billion, with a new issuance in process. These results reflect an improvement in access to financing and in market confidence.
The decrease in inflation, poverty, and country risk
One of the central points of her analysis was the evolution of inflation. Georgieva noted that the country managed to reduce it “from 210% to approximately 30%,” marking a significant deceleration.
Additionally, she indicated that the poverty level decreased from 50% to 20% in the recent period. “When the Government clearly supports vulnerable sectors, families with children, we see it in the poverty level,” she stated.
Luis Caputo and Kristalina Georgieva
The IMF director also highlighted the reduction of country risk, which fell to levels close to 400 basis points, and emphasized the impact of the regulatory framework on attracting investments. In this regard, she indicated that commitments of 45 billion dollars were generated in key sectors such as oil, gas, mining, and agriculture.
In her initial message, Georgieva raised the importance of consolidating these advances and expanding their benefits: “ensuring that Argentina's growth can be shared more broadly.” To achieve this, she proposed focusing on job creation and facilitating access to credit for small businesses and households.
Furthermore, the official shared her personal experience in economic transformation processes: “I know that the transformation of the type that Argentina is undergoing is difficult. I led three of them. My own country in the nineties, Bulgaria, suffered hyperinflation of eight thousand three hundred percent and turned our scenario upside down overnight.”
Georgieva's visit to the country comes after a formal invitation from President Javier Milei. As part of her agenda, the Managing Director will hold meetings with key officials and visit strategic sectors.
On Tuesday, July 28, she will travel to Neuquén to tour the Loma Campana field in Vaca Muerta, accompanied by the president of YPF, Horacio Marín.
