WASHINGTON, April 12, 2025 (BSS/AFP) - The International Monetary Fund on Friday approved a new four-year $20 billion bailout for Argentina to support President Javier Milei's aggressive efforts to revive the fortunes of the Latin American country.

"The program is expected to help catalyze additional official multilateral and bilateral support, and a timely re-access to international capital markets," the IMF said in a statement. The executive board's decision makes an initial disbursement of $12 billion immediately available to Argentina, with the first review of the program scheduled for June this year.