This paper examines Argentina's relationship with the International Monetary Fund (IMF) over the last two decades. It analyses the dynamics of the country's indebtedness with the IMF and the different degrees of intervention in the design of economic policies up to the present including the 2018 Stand-By Arrangement and the policies of economic openness that led to the balance of payments crisis of that same year.
The main objective of this paper is to explore the most relevant aspects of the negotiation of the new credit between the country and the Fund which was conditioned by a scenario of potential sovereign default. The characteristics of the Extended Fund Facility with the IMF in 2022 to restructure the original debt, the economic programme agreed with the IMF and the consistency of the objectives and targets in the context of the national macroeconomy and its implementation to date are also assessed.