IMF welcomes Milei's reform proposal for Argentina's Central Bank

The International Monetary Fund (IMF) has welcomed the Argentine government's proposed reform of the Central Bank aimed at strengthening its independence, the institution's spokeswoman, Julie Kozack, said on Thursday.

The reform of the Central Bank's charter forms part of the sweeping new financial reform agenda recently unveiled by President Javier Milei's government.

The package of reforms "supports Argentina's efforts to durably regain market access while maintaining flexibility regarding the timing and modalities," Kozack told a press conference.

"We also support the authorities' intention to reform the Central Bank's charter. Such a reform would strengthen the central bank's institutional safeguards that protect the independence of its policymaking," she added.

Milei's government wants to amend the Central Bank's charter so that the institution once again focuses solely on controlling inflation and is better insulated from government intervention.

IMF Managing Director Kristalina Georgieva will visit Argentina on July 28 and 29, Kozack said.

The visit is seen as a clear signal of support for Milei's government, which is also one of the United States' closest allies in the region.

"The visit reflects our close and constructive relationship with Argentina and will provide an opportunity to exchange views on the country's progress, challenges and opportunities," the spokeswoman said.

Georgieva will meet with Milei and his economic team, as well as other non-government stakeholders, she added.

The announcement comes as the IMF this week published its latest economic outlook, maintaining its forecast for Argentina's economy to grow by 3.5 percent in 2026 and around 4 percent in 2027.

Argentina signed a four-year US$20-billion Extended Fund Facility agreement with the IMF in 2025, and the government says it has sufficient funds to meet its 2026 debt repayments.

The country remains the IMF's largest debtor after receiving the Fund's biggest-ever loan in 2018 under the administration of former president Mauricio Macri.

– TIMES/AFP

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