Analysis of the National Government Financial Program – Recent Changes
The renegotiation of the stand-by arrangement with the International Monetary Fund (IMF) resulted in a reformulation of the 2019 Financial Program with respect to the version included in the Budget Bill.
With the new arrangement, the IMF will increase its disbursements by USD7.6 billion this year and USD11.1 billion next year. The IMF assistance will cover 54% of next year’s financial needs, a figure that will drop to 14.7% in 2020.