Argentina will get next installment of bailout as IMF praises Milei's austerity policies

The International Monetary Fund, Argentina’s biggest creditor, has agreed to release the next tranche of loans due under a bailout program. The move is an endorsement of Argentine President Javier Milei’s severe austerity measures that even surpass the terms of the IMF's $43 billion loan. The IMF has confirmed that the next payment, of $792 million, will become available to the government in June. The decision by the fund’s technical staff has reassured markets and boosted confidence among bankers about Argentina’s prospects as it goes through its worst economic crisis in two decades. However, it still requires final approval from the IMF’s executive board.