Argentina aims for a new program worth $20 billion with the IMF.

Argentina's Economy Minister Luis Caputo announced that the country is negotiating a $20 billion deal with the International Monetary Fund (IMF), officially putting a figure on a program that has been in the works for a long time.

Caputo stated that he requested permission a day prior from IMF President Kristalina Georgieva to disclose the amount due to recent market volatility. He emphasized that the agreed amount with IMF staff, which will ultimately be subject to board approval, is $20 billion.