AFP, Buenos Aires :
The Inter-American Development Bank (IDB) will grant Argentina over 3.8 billion dollars in funding this year, the bank’s chief said in an interview Sunday, praising the reforms undertaken by President Javier Milei.
In an opinion piece in the Financial Times newspaper IDB president Ilan Goldfajn praised Milei’s “remarkable progress in restoring much needed fiscal balance”.
In the first quarter of this year, Argentina produced its first quarterly budget surplus in 16 years.
“It hasn’t been straightforward,” Goldfajn said, referring to the draconian austerity measures taken by Milei, including deep spending cuts, which have been blamed for driving up poverty levels.
He urged the government to “continue improving spending efficiency and redirecting resources to better support the most vulnerable Argentines.”
Public spending, he said, “must become more efficient and equitable”.