Statement by the IMF’s Managing Director on Argentina
IMF News, August 29, 2018
Source details
- Canonical URL
- Statement by the IMF’s Managing Director on Argentina
Other formats
Bibliographic details
- Published: August 29, 2018
Context and meeting
- Press Release No. 18/336
- Date: August 29, 2018
- Ms. Christine Lagarde, the International Monetary Fund’s Managing Director, reported a productive conversation with President Macri.
- Media relations contacts: PRESS OFFICER: Raphael Anspach and Maria Candia Romano; Phone: +1 202 623-7100; Email: MEDIA@IMF.org
Main findings and authorities' intentions
- “He indicated his desire to work toward strengthening the policies underpinning the Stand-By Arrangement with the IMF.”
- Authorities will work to revise the government’s economic plan in consideration of “the more adverse international market conditions, which had not been fully anticipated in the original program with Argentina.”
- Revision focus areas stated by the authorities:
- “better insulating Argentina from the recent shifts in global financial markets”
- “stronger monetary and fiscal policies”
- “a deepening of efforts to support the most vulnerable in society”
IMF actions and process
- Ms. Lagarde: “I stressed my support for Argentina’s policy efforts and our readiness to assist the government in developing its revised policy plans.”
- Instruction to IMF staff: work with the Argentine authorities to strengthen the Fund-supported arrangement and to reexamine the phasing of the financial program.
- Agreed aim: “to reach a rapid conclusion of these discussions to present to our Executive Board for approval.”
Assessment and outlook
- Ms. Lagarde’s expressed confidence: “I am confident that the strong commitment and determination of the Argentine authorities will be critical in steering Argentina through the current difficult circumstances and will ultimately strengthen the economy for the benefit of all Argentines.”
Statement by the IMF’s Managing Director on Argentina, August 29, 2018.