LatinNews Daily - 14 March 2019

In brief: Argentina

* Argentina’s treasury minister, Nicolás Dujovne, has said that Argentina’s economic recession has bottomed out, that economic activity is picking up, and that the national inflation rate will start to come down in April. Dujovne’s comments came after he held a meeting with the managing director of the International Monetary Fund (IMF), Christine Lagarde, in Washington DC to review the economic adjustment measures that the government led by President Mauricio Macri has been implementing since it signed a new US$57bn Stand-by Agreement (SBA) with the IMF last year as part of efforts to stabilise the Argentine economy. Following the meeting Lagarde expressed her support for the Macri government’s actions, tweeting: “It was a pleasure to meet Nicolás Dujovne at the IMF. We had a good discussion on the recent economic developments in Argentina. Continued strong implementation of the authorities’ reform programme will be crucial for stable economy & sustainable growth”. Dujovne’s meeting with Lagarde comes as the IMF is due to approve a new US$10.8bn SBA disbursement to Argentina, the largest disbursement made to the country to date.