IMF chief says Argentina economy is ‘much sounder’ under Javier Milei

International Monetary Fund managing director Kristalina Georgieva praised Argentina's economic position during a visit to Buenos Aires, saying the country has a “much sounder” picture than when President Javier Milei took office in 2023.

Georgieva spoke on Monday at a joint press conference with Argentine Economy Minister Luis Caputo. She said Argentina's stronger position was the result of government action and “the sacrifice of the Argentine people.”

Caputo later told reporters that Georgieva had a “very good meeting” with Milei. He said she was “extremely enthusiastic” in offering congratulations and had also met Milei's cabinet ministers.

Milei came to power promising to revive the economy by cutting public spending and bringing down inflation. His austerity policies have prompted frequent protests.

The visit comes during a mixed period for Argentina's economy. Inflation has been falling for three months but remains at 33.5 percent year-on-year. Growth is 0.2 percent year-on-year, below the IMF's 3.5 percent forecast for 2026. Growth is forecast to reach four percent in 2027.

Consumer activity is weak, while debt defaults are rising. Mortgage defaults have tripled over the past year to 12.8 percent, their highest level in 20 years.

Argentina agreed in 2025 to a four-year, $20 billion extended fund facility with the IMF. In May, the IMF approved a $1 billion tranche under that agreement.

IMF spokesperson Julie Kozack said the visit was “an opportune time” to review progress under the current programme with Argentine authorities.

Georgieva is also scheduled to meet central bank chief Santiago Bausili and business and academic experts. On Tuesday, she is expected to visit Vaca Muerta, a major oil and gas production site about 1,200 kilometres from Buenos Aires.

Protesters gathered in Buenos Aires on Monday against the IMF, with placards opposing payment of foreign debt. After Argentina, Georgieva is expected to visit Uruguay to meet President Yamandu Orsi.