Did Argentinian borrow money from international finance institute in april2025 after his $libra rug pull scandal in March 2025
Executive summary
Argentina did receive a major multilateral financing package in April 2025: the IMF approved a 48‑month Extended Fund Facility worth about SDR 15.267 billion (roughly US$20 billion) on April 11, 2025, with an immediate disbursement equivalent to about US$12 billion (SDR 9.2 billion) and follow‑up tranches planned [1]. Multiple international institutions — IMF, World Bank and IDB — announced coordinated financing in April 2025 that together approached tens of billions [2] [3].
1. Did Argentina borrow from the Institute in April 2025? — Yes, the IMF approved a $20bn EFF
The International Monetary Fund’s Executive Board approved a 48‑month Extended Fund Facility for Argentina on April 11, 2025, equivalent to about US$20 billion (SDR 15.267 billion), and allowed an immediate disbursement of SDR 9.2 billion (≈US$12 billion) with further planned disbursements [1] [4]. Reuters, PBS and other outlets report the deal as a $20 billion program finalised in mid‑April 2025 [4] [5] [6].
2. What other international financing arrived at the same time? — A coordinated multilateral package
Reporting in April 2025 shows the IMF deal was accompanied by large financing pledges from other multilateral lenders: the World Bank was set to announce roughly $12 billion and the Inter‑American Development Bank also offered packages, bringing combined public multilateral support into the tens of billions [3] [2]. Some summaries put the total coordinated assistance at roughly $42 billion from IMF, World Bank and IDB [2].
3. Timing and political backdrop — April rescue followed a high‑profile crypto scandal in February–March
The LIBRA memecoin collapse and the ensuing “rug pull” controversy involving President Javier Milei dominated February–March 2025 headlines; reporting documents large investor losses and political fallout through March [7] [8] [9]. Available sources link the IMF package’s approval to Argentina’s stabilization program and fiscal adjustments rather than to the crypto episode directly [1] [10]. Sources do not explicitly claim the IMF loan was granted because of the LIBRA scandal; available sources do not mention a causal link tying the LIBRA events to IMF approval.
4. Competing narratives — rescue as stabilisation tool vs. political lifeline
Official and technical sources describe the IMF program as a tool to consolidate fiscal and monetary gains and rebuild reserves after Argentina’s reforms [1] [10]. Commentators and think‑tank pieces present an alternate political reading: some observers warned that large international support could be driven by geopolitical calculations and might prop up a politically embattled government [11] [12]. Reporting also notes the IMF has a long history with Argentina (23 prior programs) and that the program’s success hinges on policy implementation [13] [10].
5. Scale and immediate mechanics — how much and when did money move?
The IMF approval allowed an immediate disbursement of SDR 9.2 billion (around US$12 billion) and envisaged a subsequent roughly US$2 billion tranche at first review, according to the IMF press release [1]. Reuters and other outlets reported the EFF was finalised on April 11 and tied to a loosening of currency controls around the same time [4] [6].
6. Limitations in the record and what is not found
None of the supplied sources state that the IMF or other multilateral lenders denied financing because of the LIBRA scandal, nor do they show that the scandal was used as an explicit justification for the April loans; available sources do not mention a direct causal link between the LIBRA rug pull and the timing or approval of IMF financing [1] [7]. Allegations and legal actions around LIBRA are widely reported, but sources do not document IMF board deliberations referencing the crypto episode [7] [9] [8].
7. Bottom line — facts and open questions
Fact: Argentina secured an IMF Extended Fund Facility worth about US$20 billion in April 2025 with an immediate disbursement of about US$12 billion [1]. Fact: the LIBRA rug‑pull scandal unfolded in February–March 2025 and triggered political and legal fallout [7] [8]. Open question: whether the LIBRA episode materially affected the IMF or other lenders’ decisions — the available reporting does not document such a linkage and focuses on Argentina’s economic program and reserve needs as the rationale for the April financing [1] [10].
If you want, I can pull the exact IMF press release language, the Reuters chronology of April 11–14, 2025, and a digest of LIBRA‑related legal developments so you can see how contemporaneous financial and political events were reported [1] [4] [8].