International Monetary Fund Managing Director Kristalina Georgieva and Argentine President-elect Javier Milei held their first call Friday night to discuss the country’s economy amid triple-digit inflation and a plummeting currency.

“We discussed the significant challenges for Argentina’s economy and the decisive policy actions needed,” Georgieva said in a post on X, the platform formerly known as Twitter.

The IMF, she added, will support efforts to reduce the country’s inflation, currently over 140%, improve its public finances and “raise private-sector-led growth.”

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Argentina avoided falling into arrears with the IMF after paying $2.6 billion in October on its $43 billion program, the lender’s largest. More than 40% of the population lives in poverty.

Milei, also writing on X about the call, said the IMF is willing to help find the structural solutions Argentina needs. The libertarian economist said he and Georgieva spoke about his fiscal adjustment plan and monetary program.

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