IMF to move quickly on loan programme for Argentina
The International Monetary Fund stresses that the country’s current situation, with its ‘market volatility’, is very different to the last time it helped Argentina
Washington — The International Monetary Fund (IMF) will move quickly to agree on a loan programme to support Argentina but there are no details yet on what it will entail, a fund spokesman said on Thursday. However, the official stressed that the current situation — marked by "renewed financial market volatility" that has hit the country’s currency — is very different than the last time Argentina went to the IMF for aid. Officials don’t have a date for concluding the talks but the IMF "can move quickly ... and we intend to move quickly", spokespersonn Gerry Rice told reporters at a briefing. However, the size, exact type and terms of the financial package will be "part of discussions" with Argentine authorities that began last week, and details will be developed. The IMF board will hold an informal meeting on Argentina on Friday to get an update from staff, but the final loan will not be approved until negotiations have been completed, he said. The country is seeking a "high access"...
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