Investing.com -- The International Monetary Fund (IMF) confirmed on Thursday that it is in advanced discussions with Argentina regarding a substantial loan. The IMF, however, did not verify the $20 billion amount previously announced by the Argentine government.

Julie Kozack, an IMF spokesperson, spoke about the ongoing negotiations, stating that they revolved around a significant financing package. However, she noted that the final loan amount would be decided by the IMF’s executive board.

In addition to the loan discussions, Kozack also highlighted the necessity of fiscal, monetary, and foreign exchange policies for Argentina to maintain its economic stability. She praised Argentina’s "truly impressive stabilization program" and acknowledged that the IMF and the Argentine government both understand the need for these policies to preserve the progress made so far.

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