LatinNews Daily - 06 July 2022

In brief: Argentina’s new economy minister hints at IMF tensions

*Argentina’s new economy minister Silvina Batakiswho took over from Martín Guzmán, after his 2 July resignation, has said in an interview with radio station El Destape Radio that she would continue working with the International Monetary Fund (IMF) but there would be “modifications” of quarterly targets, adding that she foresaw “tensions” in upcoming revisions of the agreement. Guzmán had been integral in sealing the US$44bn extended fund facility (EFF) programme with the IMF in March and his departure and replacement by Batakis, who is aligned with the Kirchnerista faction of the ruling left-of-centre Frente de Todos (FdT) coalition, which has been critical of the IMF deal, has sparked some speculation over the future of the deal. In a statement issued on 4 July, the IMF said it was looking forward to working with Batakis and her team “to continue to support Argentina and its people in strengthening macroeconomic stability and addressing its profound challenges to lay the foundations for more sustainable and inclusive growth.”

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