The organization announced this in a statement, after Fund spokesperson Julie Kozack refused to confirm the figure last Thursday.

The International Monetary Fund (IMF) confirmed this Friday that Argentine authorities have requested a total financing package of $20 billion (€18.535 billion).

The organization made this statement in a statement, after Fund spokesperson Julie Kozack refused to confirm the figure last Thursday, stating that the Fund's governing body will ultimately determine the amount and size of the program.

"What I can say today is that the discussions are focused on a significant funding program," he said.

However, this Friday it was confirmed that IMF Managing Director Kristalina Georgieva had a call with Argentine Economy Minister Luis Caputo to discuss the next steps in preparing a new four-year program.

"Progress on the new program is well underway, and commitment continues at all levels to finalize an agreement that will help Argentina consolidate its already successful economic program," the organization explained.