IMF payment of US$793 million due as third program review takes place

The payment coming due and the review underway

The Argentine government faces a payment of nearly 800 million dollars to the International Monetary Fund this Friday, according to information published by Crónica. That outlet specifies that the exact amount comes to 793 million dollars. The payment coincides with the presence in Buenos Aires of a mission of technicians from the organization carrying out the third review of the program agreed in April 2025.

According to the latest available data cited by Crónica, the Treasury’s dollar deposits at the Central Bank of the Argentine Republic totaled 2.328 billion dollars. With that level, the outlet notes that the government should have no trouble disbursing the 793 million due this Friday.

The same source adds that the La Libertad Avanza administration could recover in the coming weeks the dollars used for this payment if the technical mission approves the review of the public accounts. In that case, a disbursement of around 860 million dollars would be unlocked.

The upcoming maturities according to Crónica

Crónica reports that, after this Friday’s payment, there are two other maturities scheduled for the remainder of 2026. In November, Argentina must pay the Fund about 865 million dollars, while in December it will have to pay another 340 million. For 2027, the commitments total 7.700 billion dollars, again according to that outlet.

The article also includes statements from Gita Gopinath, former number two at the IMF and currently an academic at Harvard University. Gopinath maintained that «the Argentine peso needs to adjust further and that it should be allowed to depreciate to a greater extent than it is currently doing.» She also indicated that «Argentina will have to accumulate foreign currency reserves, even if the objective is, obviously, to have a floating exchange rate.» These statements were made in an interview granted to American economist Tyler Cowen.

What the official IMF document shows

The primary source available is the official TSV download of Argentina’s projected payments to the IMF, updated as of June 30, 2026. That document, published by the Fund itself, details the amounts in Special Drawing Rights (SDR) and not in dollars. The table includes items such as GRA Repurchase (EFF), GRA Basic Charges, GRA Level Based Surcharge, GRA Time Based Surcharge and Net SDR Charges.

For 2026, the document records an annual total of 2,082,529,842 SDR. The payments listed for that year include: on August 1, 2026, 165,261,051 SDR for GRA Level Based Surcharge; 360,329,108 SDR for GRA Basic Charges; 61,972,895 SDR for GRA Time Based Surcharge; and 35,051,650 SDR for Net SDR Charges. On September 25, 2026, a GRA Repurchase (EFF) for 583,333,333 SDR appears. On November 1, 2026, there are 61,921,353 SDR for GRA Time Based Surcharge; 35,709,241 SDR for Net SDR Charges; 165,123,609 SDR for GRA Level Based Surcharge; and 363,827,602 SDR for GRA Basic Charges. On December 24, 2026, a GRA Repurchase (EFF) for 250,000,000 SDR is recorded.

For 2027, the annual total amounts to 5,650,460,371 SDR. Among that year’s maturities, on February 1, there are 359,918,191 SDR for GRA Basic Charges, 162,831,372 SDR for GRA Level Based Surcharge, 61,061,765 SDR for GRA Time Based Surcharge and 35,709,241 SDR for Net SDR Charges. On March 25, 2027, there is a GRA Repurchase (EFF) for 583,333,333 SDR; on April 7, 2027, another for 250,000,000 SDR; on June 22, 2027, one for 375,000,000 SDR; and on June 28, 2027, one for 250,000,000 SDR. The document continues with records for 2028, 2029 and part of 2030.

Contrast between the sources: overlaps and limits

The two sources are not directly comparable in their units. Crónica expresses the amounts in dollars and refers to a specific maturity of 793 million for this Friday. The IMF document expresses the payments in SDR and offers neither a conversion to dollars nor a reference exchange rate. Therefore, it is not possible to establish an exact equivalence between the two figures without resorting to an exchange rate that is not provided in the material.

The official IMF document does not mention the visit of a technical mission or a third review of the program agreed in April 2025. Nor does it allude to Treasury deposits at the BCRA or to a possible disbursement of 860 million dollars. Those data come exclusively from the Crónica article.

The Crónica article, in turn, does not detail the items that make up the 793 million payment nor indicate whether that amount corresponds to a single item or a sum of several. The IMF document, by contrast, breaks down each payment by type of charge or repurchase, but does not identify a specific maturity for the Friday mentioned by Crónica.

Regarding the annual totals, Crónica states that the commitments for 2027 total 7.700 billion dollars. The IMF document records for 2027 a total of 5,650,460,371 SDR. The difference between the two figures cannot be resolved without a conversion of units, which the material does not provide.

What each document establishes and what remains open

The data point worth following

The element to monitor is the resolution of the third review of the program by the IMF technical mission. Crónica maintains that, if approved, a disbursement of around 860 million dollars would be unlocked. The official IMF document neither confirms nor denies that sequence. The evolution of that review and its impact on upcoming maturities are the points that require additional verification.