IMF Spokesperson Statement on Argentina

IMF News, December 12, 2023

Source details

Press Release No. 23/441
Date: December 12, 2023
Issued by: IMF Communications Department; statement delivered by Julie Kozack, Director of Communications at the International Monetary Fund (IMF).
Core message (direct quote): “IMF staff welcome the measures announced earlier today by Argentina’s new Economy Minister, Luis Caputo. These bold initial actions aim to significantly improve public finances in a manner that protects the most vulnerable in society and strengthen the foreign exchange regime. Their decisive implementation will help stabilize the economy and set the basis for more sustainable and private-sector led growth."

The announced measures are characterized as "bold initial actions."
Policy aims stated:
- Significantly improve public finances.
- Protect the most vulnerable in society.
- Strengthen the foreign exchange regime.
- Stabilize the economy.
- Set the basis for more sustainable and private-sector led growth.
IMF view on prospects: The package "provides a good foundation for further discussions to bring the existing Fund-supported program back on track."

IMF staff and the new Argentine authorities will "work expeditiously in the period ahead."
Emphasis on "decisive implementation" of the measures to achieve stabilization and a basis for private-sector led growth.
Context note (direct quote): "Following serious policy setbacks over the past few months, this new package provides a good foundation for further discussions..."

IMF Communications Department — December 12, 2023.