19:43 GMT04 March 2021
Listen Live
    Latin America
    Get short URL

    WASHINGTON (Sputnik) - The government of Argentina will work to revise its economic plan with a focus on better insulating the country from recent shifts in the global economy, International Monetary Fund (IMF) Managing Director Christine Lagarde said in a press release.

    "In consideration of the more adverse international market conditions, which had not been fully anticipated in the original program with Argentina, the authorities will be working to revise the government’s economic plan with a focus on better insulating Argentina from the recent shifts in global financial markets, including through stronger monetary and fiscal policies and a deepening of efforts to support the most vulnerable in society," Lagarde said on Wednesday.

    Moreover, the IMF will reexamine the phasing of the Stand-By Arrangement for Argentina.

    "I stressed my support for Argentina’s policy efforts and our readiness to assist the government in developing its revised policy plans," Lagarde said in the release on Wednesday. "I have instructed IMF staff to work with the Argentine authorities to strengthen the Fund-supported arrangement and to reexamine the phasing of the financial program."

    In June, IMF granted Argentina immediate access to $15 billion to stabilize its budget and begin implementing a series of economic reforms, as well as access to an additional $35 billion. Argentina has accepted a three-year, IMF-backed plan to trim government borrowing, reduce inflation and guarantee independence of the nation’s central bank.

    READ MORE: Argentina Curbs Primary Fiscal Deficit in Line With IMF Assistance Program



    Argentina Cuts GDP Growth Outlook to Negative, Forecasts Poverty to Rise
    More UFO Fans Drawn to Argentina Hoping to Spot Out of This World Objects
    Seized Cocaine Burned in Argentina in Presence of Russian Ambassador - Embassy
    Argentina Curbs Primary Fiscal Deficit in Line With IMF Assistance Program
    Brazil, Argentina Markets Hit Hard by Domestic and Overseas Turmoil
    revision, borrowing, reforms, government, economic, International Monetary Fund, Christine Lagarde, Argentina
    Community standardsDiscussion