Argentina sealed a $20 billion, 48-month Extended Fund Facility deal with the International Monetary Fund on Friday and, in a major policy move ahead of the deal, dismantled key parts of its years-long currency controls and loosened its grip on the peso.

The libertarian government of President Javier Milei on Friday announced that it would lift most of the country’s strict capital and currency controls on Monday, a high-stakes gamble made possible by a new loan from the International Monetary Fund.

Argentina sealed a Ksh.2.5 trillion, 48-month Extended Fund Facility deal with the International Monetary Fund on Friday and, in a major policy move ahead of the deal, dismantled key parts of its years-long currency controls and loosened its grip on the peso.