IMF to loan another US$5.4bn to Argentina

The IMF – International Monetary Fund – will release another US$5.4bn to Argentina. This new disbursement is given after the country has met the quarterly targets, until March, imposed by the fund’s technical staff.

With this last payment, the value now reaches 78% of the disbursement that was agreed upon last year between Argentina and the IMF.

Meanwhile, the new director responsible for the agency, David Lipton, “praised” the Argentine government “for its continued efforts and firm implementation of its economic policy program.” He stated that “the authorities have completed all their fiscal, monetary, and social expenditure objectives under the IMF-supported program in the context of this review.”

However, Argentina went into recession in 2018, after two exchange races that triggered inflation and led the government of Mauricio Macri to agree to a plan with the IMF which at first was of US$50bn, but was later expanded with another US$6bn.

In return, Argentina committed itself to achieve fiscal balance in 2019, and a surplus, in 2020, with a tight adjustment plan.

Sources: Mercopress and Globo.com

Sharing is caring!