Argentina receives IMF support

There seems to be light at the end of the tunnel for Argentina as the International Monetary Fund has promised to support the Latin American countries whose economic outlook has not been looking good.

This promise came from  IMF Managing Director, Ms Christine Lagarde on meeting with Argentina’s Economy Minister Nicolas Dujovne and Central Bank Governor Guido Sandleris on June 8 in Fukuoka, Japan on the sidelines of the G20 Finance Ministers and Central Bank Governors.

In a release made available to OpenLife by IMF media office, Madame Lagarde issued the following statement at the conclusion of the meeting,

“It was a pleasure to meet Minister Nicolas Dujovne and Central Bank Governor Guido Sandleris in Fukuoka today. We exchanged views on recent developments in the world economy and Argentina’s outlook.

“The authorities’ continued policy efforts have led to important progress, including on the fiscal and current accounts The Argentine authorities and the staff team continue working on the fourth review of the Stand-By Arrangement.

“I would like to reiterate the Fund’s commitment to support Argentina’s policy efforts to address its economic challenges. Steadfast implementation of Argentina’s economic program will help further stabilize the economy and lay the ground for sustainable and inclusive growth.”