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LatinNews Regional Monitor: Brazil & Southern Cone - 25 September 2019

In brief: IMF offers continued support for Argentina

* The International Monetary Fund (IMF) has announced its continued collaboration and financial support for Argentina amidst the country’s economic crisis, following a constructive meeting in New York City between the IMF’s Acting Managing Director David Lipton, President Mauricio Macri, Finance Minister Hernán Lacunza, and Central Bank Governor Guido Sandleris. In a press statement, Lipton additionally commended the recent measures undertaken by the Argentine authorities to stabilise local financial markets and noted that there would be more technical meetings in the coming weeks to further discuss Argentina’s economic plan. The IMF’s continued support will come as a relief to Argentina as the economic turbulence and uncertainty caused by Macri’s electoral set back in the primary elections of 11 August prompted the IMF to delay the release of the next US$5.4bn instalment, due in mid-September, of Argentina and the IMF’s Stand-By Arrangement (SBA).

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