The International Monetary Fund (IMF) is betting billions of dollars on Argentina’s economic recovery, a move reminiscent of past bailouts that collapsed in devastating fashion. Six years after its last rescue program failed, the IMF has approved a $20 billion aid package under President Javier Milei’s leadership.
This marks the 23rd time the Washington-based lender has come to Argentina’s financial assistance over the past seven decades. The key factor driving this decision is President Milei’s unexpected popularity and his commitment to implementing drastic spending cuts that exceed even the Fund’s initial expectations.
Source: https://www.bloomberg.com/news/articles/2025-04-13/imf-bets-billions-on-milei-s-chainsaw-to-avert-past-debacles