LatinNews Daily - 10 October 2022

* The executive board of the International Monetary Fund (IMF) has announced the completion of a second review of Argentina’s 30-month Extended Fund Facility (EFF) arrangement, which was agreed in March. The board’s decision enables an immediate disbursement of around US$3.8bn, bringing total disbursements under the arrangement to around US$17.5bn. IMF managing director Kristalina Georgieva stated that “decisive corrective measures” introduced by Argentina’s new economic team, led by the economy minister, Sergio Massa, were “starting to restore confidence and policy credibility”. Georgieva also noted that Argentina had met programme targets for the end of September, including for net international reserves and monetary financing of the fiscal deficit. “Amid the challenging global environment and ongoing domestic risks, resolute implementation of the program and agile policy making are critical to meet objectives and secure stability,” said Georgieva, adding that “broad political support” for the programme’s policies remained “essential”.

End of preview - This article contains approximately 149 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

• Subscribe
• Sign up for a one-time, 14-day trial