IMF Engages Argentina, Kenya in New Lending Discussions

The International Monetary Fund (IMF) is engaged in constructive discussions with Argentina regarding a new financing agreement to replace an existing $44.5 billion credit line. The talks come as Argentina's government, led by President Javier Milei, seeks an additional $11 billion in funding to eliminate stringent currency controls. Meanwhile, Kenya is also negotiating with the IMF for a new lending program ahead of the expiration of its current arrangement in April, as the nation faces significant fiscal pressures. The Kenyan Finance Minister highlighted the need for continued support to stabilize the economy, exploring options like a $1.5 billion loan from the UAE and potential Eurobond issuance. In Sri Lanka, an IMF delegation met with President Anura Kuara Disanayake to discuss progress on their $3 billion Extended Fund Facility, with expectations for a fourth tranche to be released soon. These developments across multiple countries illustrate ongoing efforts to secure financial stability amid economic challenges.