The International Monetary Fund (IMF) contacted presidential hopefuls Javier Milei and Patricia Bullrich to coordinate meetings, sources close to the matter confirmed to the Herald.

“The IMF called me, they contacted my sister to have a meeting,” Milei said in statements made on Tuesday to La Red radio station, referring to Karina Milei, his sister and campaign manager. “We are seeing how to deal with it.”

Milei, a far-right libertarian economist, was the most-voted candidate in Sunday’s primaries, garnering 30% of the vote.

An IMF spokesperson told the Herald that the lender “regularly and routinely contacts a wide range of political and economic actors, which also include countries with IMF programs.” The spokesperson also said that contacting presidential candidates allows the Fund’s staff “to better understand key aspects of potential future economic policies.”

“These contacts are important for understanding the views and opinions of the Fund and its members on the overall objectives and key policies of IMF-supported programs,” the spokesperson added.

In 2022, following the renegotiation of the record-high US$44 billion debt former President Mauricio Macri acquired in 2018, the country signed an economic program with the Fund that Argentina must comply with to receive disbursements every three months to pay back the previous debt. One aspect of the program is the fiscal deficit, which has to be progressively lowered — in 2024, it has to be 0.9%.

In the interview with La Red, Milei said that “there should be no problem” with the lender since his economic program “is much tougher than that of the Fund.” He said that a potential administration of his would slash government spending for an amount equivalent to “15 GDP points.”

Bullrich, a security hardliner, won Juntos por el Cambio (JxC) primaries. JxC was the second-most voted coalition in Sunday’s elections, with 28.2% of the votes. 

Last month, Bullrich proposed “shielding” Argentina’s economy with US dollars she would obtain through a new deal with the IMF.

“We believe that with a serious [economic] plan like the one we are proposing — with a long-term horizon, an investment protection law, a simplification of regulations, a reasonable tax horizon, and a labor reform, we are going to obtain dollars from the IMF,” Bullrich said.