Oct 1 (Reuters) – The International Monetary Fund said on Thursday it will continue discussions with Argentina over the coming weeks with the view to reaching a staff-level agreement on the third review of the country’s extended fund facility program.
An IMF technical mission visited Buenos Aires from September 21-29 as part of the talks, said Julie Kozack, Director of the IMF’s Communications Department.
• Kozack underscored that Argentina has made significant progress in restoring macroeconomic stability in a very challenging environment
• Argentina has experienced a big decline in inflation over last few years, seen a strengthening of external position as reserves have accumulated, and implemented fiscal discipline, moving from deficit into surplus, said Kozack
• “All of this stabilization is important, and it is a key foundation for sustainable growth in Argentina,” said Kozack
• IMF Managing Director Kristalina Georgieva expressed confidence in July in President Javier Milei’s economic reforms and the country’s ability to navigate a looming debt repayment crunch next year that could coincide with his re-election bid
• There is a joint recognition between the IMF and Argentina that the work to strengthen Argentina’s resilience needs to continue
• Kozack said that it is important to ensure that growth, which has been focused in energy, mining and agricultural sectors, broadens and becomes more evenly distributed across sectors in the economy
(Reporting by George Libby and Marc Jones; Writing by Anthony Esposito; Editing by Gabriel Araujo)
