The government requested a waiver from the IMF for failing to meet reserve targets.

The government , through a delegation sent to Washington, requested a waiver from the International Monetary Fund ( IMF ). The organization has not yet responded to this request, although it is estimated that they will respond in favor of Javier Milei and Luis Caputo to expedite the disbursement of US$2 billion corresponding to the first review of the Extended Facilities program.

The agreement with the IMF established a goal of accumulating US$4.7 billion in reserves by the second quarter of 2025, but the government failed to meet it. The arguments put forward by the Casa Rosada (Presidential Palace) include a combination of factors, including debt maturities, the lack of currency issuance, and the lack of intervention in the dollar after the lifting of the currency controls.

As a result, the current account deficit reached US$5.1 billion in the first half of the year, five times higher than the IMF's projections, and raised concerns about compliance with the April agreement with the international organization. Thus, and understanding the good rapport between the parties, the government requested a waiver, which could be resolved in August or September , taking into account the summer period into which the financial institution enters the market, according to Ámbito.

A waiver, in financial terms, is a "forgiveness" that the IMF will grant to Argentina. By granting it, the agreement established between the parties will not be voided due to noncompliance. Rather, Argentina acknowledges that it was unable to fulfill part of the contract, and the other party, in this case the International Monetary Fund, decides not to take legal action because it understands there is a willingness to rectify the breach.

If so, the agreed-upon agreement remains in effect, and the remaining terms of the pact remain in place. In short, if the IMF grants a waiver, the government will receive the US$2 billion it is entitled to, as agreed. At the same time, they must comply with the reserves portion of the agreement for the next review, because a second breach would undermine the Libertarians' credibility with the Fund.

"Regarding some more specific questions, such as the program's goals and the possibility of a waiver, given that discussions are ongoing, I'm not going to speculate on the possibility of waivers or what's being discussed . We'll keep you updated as appropriate," spokesperson Julie Kozack replied when asked about the matter.