Argentina has sealed a $20 billion extended fund facility (EFF) with the International Monetary Fund and dismantled large parts of its currency controls as libertarian President Javier Milei looks to drag the country out of a prolonged economic slump.

The massive infusion of dollars into the government’s coffers allowed Milei to announce, effective Monday April 14, the end of much of Argentina’s regime of currency controls, imposed in 2011 by then-President Cristina Kirchner in an attempt to halt capital flight and prop up the Argentine peso.

President Milei had sought support from the Trump administration for new financing.