The move, first announced by President Nestor Kirchner on December 15, marked a symbolic end to a period of economic crisis and indebtedness triggered by Argentina's unprecedented default four years ago.
Argentina has had sharp disagreements with the IMF about its proposed policy prescriptions, accusing the institution of imposing excessively harsh conditions.
Argentine officials say the country will have a greater degree of economic independence by clearing the IMF debt but some experts question the government's decision to spend such a large chunk of the country's currency reserves.
The repayment of Argentina's debt comes after Brazil announced similar plans to shed its debt burden, clearing up its obligations two years ahead of schedule.
Argentina's currency reserves were now at US$18.5 billion (A$25 billion) after the debt repayment, a level that was more than sufficient to ensure financial stability, according to the president of the central bank, Martin Redrado.
Earlier estimates had put the remaining debt at US$9.810 billion (A$13.2 billion) but the figure was revised after a payment of US$300 million (A$404 million), the government said.