ZCZC
BCN-25
IMF-ECONOMY-ARGENTINA-LOANS
IMF officials in Argentina for crisis loan talks
WASHINGTON, Sept 13, 2018 (BSS/AFP) – Officials from the International
Monetary Fund are in Argentina as part of talks to strengthen and accelerate
a crisis loan package, the global lender said Wednesday.
The IMF and Buenos Aires agreed in June on a three-year, $50 billion
rescue lending program but Argentina has since asked for a more rapid
disbursement.
Buenos Aires has received $15 billion so far but any changes will require
the approval of the IMF board.
“An IMF team led by Mr. Roberto Cardarelli is currently in Buenos Aires to
continue discussions with the Argentine authorities to further strengthen
Argentina’s IMF-backed program,” an IMF spokesman said in a statement.
“Fund staff will be working intensively, in collaboration with the
government, to identify how the IMF can best support Argentina in the face of
renewed financial volatility and a challenging economic environment.”
Argentina’s Finance Minister Nicolas Dujovne has denied that Buenos Aires
is seeking additional funding beyond the amount already agreed to.
President Mauricio Macri is under increasing pressure as the peso has
plunged — despite intervention from the central bank — and the recession
worsens.
And he is facing growing opposition from the public for seeking help from
the IMF, which has a bitter history in the country and is blamed for the
economic woes.
BSS/AFP/HR/1008