Argentina’s Milei, IMF discuss fiscal adjustment plan, monetary program By Reuters

Argentina’s Milei, IMF discuss fiscal adjustment plan, monetary program By Reuters

© Reuters. Argentine presidential candidate Javier Milei addresses supporters as they react to the results of Argentina’s runoff presidential election, in Buenos Aires, Argentina November 19, 2023. REUTERS/Agustin Marcarian/File Photo

(Reuters) – Argentina President-elect Javier Milei said on Friday he had spoken with the director of the International Monetary Fund (IMF), Kristalina Georgieva, regarding plans to adjust the country’s fiscal policy and monetary program.

“The Fund showed itself to be collaborative in looking to find the structural solutions Argentina needs,” Milei said on social media network X.

Georgieva later said the two discussed the “significant challenges ahead” for Argentina’s economy and the “decisive” policy actions needed.

The country is currently facing inflation nearing 150%, a looming recession and net reserves seen at negative $10 billion. Argentina is tied up by a $44 billion loan program from the IMF that has veered off track.

“The IMF is committed to support efforts to durably reduce inflation, improve public finances and raise private-sector-led growth,” Georgieva said on X.

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