Argentina’s talk of ample financing to be provided by the International Monetary Fund on the eve of its presidential election underscores heightened concern over how markets would digest the actual delay in negotiations for a refinancing program.

Economy Minister Sergio Massa told a local TV network Sunday night that the deal under discussion would include a “very big package of disbursements in August and an additional one in November.” Just hours earlier, the IMF said it had reached “understandings” on key goals and parameters for a staff-level agreement with the cash-strapped nation.