International Monetary Fund: Argentina needs to restore confidence

After the year-end strike, the International Monetary Fund (IMF) indicated that Argentina should put in place policies to restore confidence and stability, but with care to continue supporting the sectors most affected by the Coronavirus crisis.

IMF spokesperson Jerry Rice said the IMF shares the Argentine authorities ’view that they need a carefully balanced set of policies to enhance stability. He said, “The authorities continue to work on designing their medium-term economic plan, discuss specific measures for its implementation, and work to support it with broad political and social support.”

“We share the authorities’ view that meeting Argentina’s challenges will require a carefully balanced set of policies that promote stability, restore confidence, protect the most vulnerable Argentina, and lay the foundation for sustainable and inclusive growth,” he added.

Although he avoided mentioning the latest specific government measures such as the ups and downs in corn exports, regarding negotiations for a new program, Rice expected official talks to roughly intensify with Argentine authorities over the next few weeks.

“We had a short break in the dialogue during the holiday period, but we hope that the frequency of the meetings, all hypothetical, will increase in the coming weeks,” said Rice, who also denied talking to the government about the extension. From deadlines in case signature is delayed.