Argentina and International Monetary Fund (IMF) staff have reached an agreement on the third review of the country’s economic reform program, potentially unlocking access to US$900 million ($1.28 billion).
The staff-level agreement remains subject to approval by the IMF Executive Board, which is expected to consider the review in early December.
The IMF says fiscal and monetary policies have supported falling inflation and strengthened Argentina’s external position, while reforms covering investment, trade, labour, and capital markets are intended to improve access to finance and support economic growth.
Approved investments under Argentina’s Incentive Regime for Large Investments (RIGI) now exceed US$76 billion, according to the IMF. The figure represents planned investment across mining, oil and gas, energy, infrastructure, steel, and technology—not expenditure already completed or mining investment alone.
Mining projects admitted to the regime span copper, lithium, gold, and silver. The IMF and Argentine authorities have agreed to prioritise longer-term financing and measures intended to help approved strategic investments proceed.
Argentina also updated its mining investment procedures in August, creating a centralised project register, linking the framework with RIGI, and digitising value-added tax credit refunds for mineral exploration.
The agreement does not guarantee that the IMF board will approve the review or that planned mining investments will proceed.
Argentina’s mineral development pipeline includes large copper, lithium, gold, and silver projects concentrated in its western and northwestern provinces.
Write to France Pinzon at Mining.com.au
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