IMF lauds Argentina economic reform plan


Jun 15, 2018-

IMF chief Christine Lagarde on Wednesday applauded Argentina’s economic reform plan proposed to secure $50 billion in financing, but made it clear it was designed in Buenos Aires, not imposed from Washington.

The programme, which she said paid particular attention to protecting the poor and vulnerable, will go to the IMF Executive Board for final approval of the three-year loan deal on June 20.

IMF staff reached an agreement with President Mauricio Macri’s government last week on the standby financing arrangement which aims to bolster market confidence in the government’s finances. But the announcement was greeted by vocal protests and threats of yet another labor strike. Lagarde and other IMF officials have stressed that their role is a supporting one, and the economic plan has flexibility to maintain social spending.

Published: 15-06-2018 08:06

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