The International Monetary Fund (IMF) staff had productive meetings with Argentine authorities during an in-person visit and will return in mid-November to initiate discussions on a new IMF-supported program, the IMF said in a statement on Monday.
“Staff welcomed the authorities’ commitment to policies to secure a growth-friendly fiscal consolidation while also protecting the most vulnerable, enabling a gradual reduction in inflation, and boosting job creation, investment and exports,” it said.
In 2018, Argentina received the biggest lending package in IMF history: $57 billion. About $44 billion of the allotted cash of this standby lending deal from two years ago has been paid out so far.
After reaching a sovereign debt restructuring deal in August, Argentina wants IMF’s support to new lending.