In April, Argentina’s financial markets came under sudden pressure. On 20 June 2018, the Executive Board of the International Monetary Fund (IMF) approved a three-year Stand-By Arrangement (SBA) for Argentina. On 26 September 2018, IMF staff and Argentine authorities reached an agreement on a set of strengthened economic policies that will underpin a revised SBA, which front loads IMF financing, and increases resources available under the three-year programme. This is subject to IMF Executive Board approval.
The G7 strongly supports the commitment of the Argentine authorities to implement reforms to stabilise its economy and promote growth.