IMF chief visits Argentina's Vaca Muerta, backs Milei's economic plan

International Monetary Fund (IMF) Managing Director Kristalina Georgieva visited Vaca Muerta, Argentina's vast unconventional oil and gas reserve, marking the culmination of a two-day trip to the country. During her visit, she reiterated strong backing for President Javier Milei's economic agenda.

Arriving in Neuquén province, Georgieva was accompanied by Argentina's Economy Minister Luis Caputo. She then traveled by helicopter to the Loma Campana field, where she was received by Horacio Marín, the president of the state-owned energy company YPF. Georgieva toured the emblematic area of Vaca Muerta, a key focus for the Argentine government's strategy to boost energy exports and foreign currency earnings.

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Argentina is in a much stronger position thanks to the hard work of the government and the perseverance and sacrifice of the Argentine people.

The visit followed Georgieva's public praise of Milei's economic plan on the previous day. She stated that Argentina is now in a "much stronger position" thanks to the "hard work of the government and the perseverance and sacrifice of the Argentine people." She encouraged the South American nation's government to "maintain reforms, strengthen stability, and unlock investment" to foster economic growth.

Georgieva met with President Milei and his cabinet ministers in Buenos Aires on Monday, also dining with business leaders from the financial, energy, and industrial sectors. Argentina currently owes the IMF $57.87 billion, making it the Fund's largest debtor. Following her visit to Vaca Muerta, Georgieva is scheduled to travel to Uruguay.

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maintain reforms, strengthen stability and unlock investment