IMF Acting Managing Director Statement on Argentina
IMF News, July 5, 2019
Source details
- Canonical URL
- IMF Acting Managing Director Statement on Argentina
Other formats
Bibliographic details
- Authors: Arrangement. Subject
- Published: July 5, 2019
Key announcement
- Press Release No. 19/268; July 5, 2019.
- David Lipton, the International Monetary Fund’s Acting Managing Director, issued the statement.
- IMF staff and the Argentine authorities reached an agreement on the fourth review of the economic program supported by the Stand-By Arrangement.
- Subject to the approval of the Executive Board, Argentina would have access to about US$ 5.4 billion (SDR 3.9 billion).
- Mr. Lipton: “I look forward to discussing this review with the IMF’s Executive Board on July 12.”
Program implementation and targets
- “The authorities completed all their fiscal, monetary and the social expenditure targets under the IMF-backed program in the context of this review.”
- Mr. Lipton “commend[ed] the Argentine authorities on their continued efforts and steadfast implementation of their economic policy program.”
Economic assessment and outlook
- Financial markets stabilized in May and June.
- Inflation – while still at high levels – is expected to continue to fall in the coming months.
- The fiscal and external positions continue to improve.
- There are also signs that the economy is improving in the second quarter.
Policy stance and recommendations
- “I fully support Argentina’s efforts to bolster confidence, lay the foundation for sustainable growth and protect the most vulnerable.”
- “Steadfast implementation of the commitments and policies underlying the authorities’ IMF-backed program will be critical for continued progress.”
Mission and contacts
- An IMF mission led by Mr. Roberto Cardarelli visited Argentina during May 11–22, 2019 to conduct discussions on the fourth review of Argentina’s IMF-supported program under the Stand-By Arrangement.
- Talks continued in Washington DC after the end of the mission.
- During its visit to Buenos Aires, the mission met with the Minister of the Economy Nicolas Dujovne, the Governor of the Central Bank Guido Sandleris, as well as other government officials and members of the private sector and trade union representatives.
- MEDIA RELATIONS – PRESS OFFICER: Raphael Anspach
- Phone: +1 202 623-7100
- Email: MEDIA@IMF.org
IMF Press Release No. 19/268; July 5, 2019.