Argentina’s President Javier Milei has issued an executive decree preapproving a loan agreement from the IMF, signalling the imminent conclusion of a long-awaited deal that is essential to his economic plan.

President issues decree seeking green light from Congress to move forward with rejigged IMF agreement; Repayments would be pushed out over 10 years with a grace period of four and a half years.

Argentina's government published a decree on Tuesday backing a new International Monetary Fund (IMF) program, the most concrete step yet towards sealing a new deal that could help the embattled country meet its debts and ease capital controls.

The decree said that the program would involve a repayment period of 10 years with a grace period of four years and six months. It added that the new funds received would be used

President Javier Milei says new IMF programme is a move to "exterminate inflation" in Argentina. President Javier Milei says that a new agreement with the IMF will clean up the accounts of the country's Central Bank and wipe out inflation.