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Argentina Pulls State From IMF Loan Case as Prosecutor Appeals Archive

Appellate review by the Federal Chamber now determines whether the probe resumes.

Overview

  • Decree 87/2026 orders the Treasury Attorney’s Office to cease acting as private complainant and revokes a 2021 directive that had put the State in that role.
  • The decree argues criminal prosecution belongs to the Public Prosecutor’s Office and says the Treasury Attorney lacks specialized capacity for complex economic crimes.
  • Judge María Eugenia Capuchetti archived the case on February 2, finding the accusations reflected economic policy choices rather than criminal conduct.
  • Federal prosecutor Franco Picardi appealed the archive, urging the Federal Chamber to reopen the investigation and stating there are elements to consider summonses for Mauricio Macri, Luis Caputo and Federico Sturzenegger.
  • The case, Causa N° 3561/2019, targets decisions tied to the 2018 IMF Stand-By program reported at about USD 57.1 billion, with roughly USD 44.5 billion disbursed, and the decree notes civil recovery actions remain possible.