The International Monetary Fund (IMF) and Argentina are “fully committed” to working together on a new debt program for the country, the creditor said on Friday, though more negotiations are needed after recent meetings between officials on both sides in Washington.
Argentina is rushing to reach a new deal with the IMF to help defer some $45 billion in payments it cannot make after years of debt and currency crises.
A team had recently met with Fund staff and “advanced the technical work” of the agreement.
The IMF said in a statement that Argentina needs a “multifaceted approach” to tackle runaway inflation, which exceeds 50% a year, which would involve reducing monetary financing of the fiscal deficit, positive real interest rates and price coordination. salary.
“We are working on the same line. They recognize a series of advances in Argentina’s economic reactivation, the fiscal improvement that currently exists,” said Gabriela Cerruti, spokeswoman for the Argentine presidency.
The IMF said “broad support” for the agreement, nationally and internationally, would be key to its success. The report added that both sides recognized a stronger-than-expected recovery in economic activity and investment this year.
Reference: CNN Brasil
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