The International Monetary Fund (IMF) and the government of Argentina have made "good progress" in talks over the financial support program for the country, IMF spokesperson Gerry Rice said on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 19th May, 2022) The International Monetary Fund (IMF) and the government of Argentina have made "good progress" in talks over the financial support program for the country, IMF spokesperson Gerry Rice said on Thursday.
"I would characterize the status of the discussions of the first review as good progress had been made, and we hope to communicate about the conclusion of the mission soon," Rice said during a press briefing.
The IMF and Argentina are continuing their discussions in online format and reviewing priority policies, he also said.
The two sides are also assessing the impact of the conflict in Ukraine on Argentina's economic outlook, Rice added.
In June 2018, the IMF approved a $50 billion stand-by loan to Argentina to help the country reduce its budget deficit amid soaring inflation. Three months later, the IMF agreed to increase the size of the financing program to $56.3 billion. However, the deal was renegotiated in 2021 down to $44 billion.
