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

International Monetary Fund director Kristalina Georgieva praised Argentina's economic position during a visit to Buenos Aires, saying the country has a “much sounder” outlook 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.”

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. 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 a time to review progress under the current program with Argentina. Georgieva is also set to meet central bank chief Santiago Bausili and business and academic experts, and is expected to visit the Vaca Muerta oil and gas production site on Tuesday.

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.