The International Monetary Fund (IMF) executive board has approved the first review of Argentina's 48-month Extended Fund Facility (EFF) program, resulting in a disbursement of approximately $2 billion to the country. This approval follows the program agreement signed in April 2025 under the administration of President Javier Milei. The IMF granted Argentina flexibility on the accumulation targets for international reserves after the country missed its original benchmark, easing conditions to support the continuation of the $20 billion funding program. The IMF also requested a predictable schedule for foreign currency acquisitions by Argentina's Central Bank. Following the disbursement, Argentina's Central Bank reserves increased to over $43 billion, reaching their highest level during Milei's tenure. The government plans to use the funds to bolster public finances and meet debt obligations with the IMF. The announcement coincided with a decline in the official dollar exchange rate and positive market reactions, including gains in the S&P Merval index and dollar-denominated bonds. Additionally, the IMF report indicated that a new inflation index from Argentina's National Institute of Statistics and Censuses (INDEC) is expected to be released by the end of the year as part of the agreement.