WASHINGTON, DC — The
International Monetary Fund’s (IMF) board on Friday approved a new loan tranche of $3.8 billion to
debt-plagued Argentina, the crisis lender said in a statement.
اضافة اعلان
The decision, approved by the IMF’s technical teams
in September, was taken at the end of the second review of the Extended Fund
Facility worth a total of $44 billion over 30 months.
The latest tranche brings $17.5 billion to the total
disbursed to Buenos Aires to strengthen the country’s economic stability and
promote sustainable growth.
“Argentina’s new economic team adopted decisive
corrective measures that are starting to restore confidence and policy
credibility,” IMF Managing Director Kristalina Georgieva said in a statement.
Georgieva’s praise appeared aimed at Argentina’s new
economic minister Sergio Massa, who pledged in early August to honor the
commitment with the IMF to reduce the country’s public deficit to 2.5 percent
this year.
But she nevertheless described the economic
situation as “fragile,” and noted that “prudent macroeconomic policies and
steadfast program implementation” including expenditure controls and tighter
social spending will still be needed.
The agreement with the IMF, signed last March,
provides for a series of measures aimed at controlling the country’s chronic
inflation — which soared to 50.9 percent last year and 71 percent, year on
year, in July 2022 — and reducing its
public deficit towards equilibrium in 2025.
President
Alberto Fernandez’s government, under the IMF
deal, must boost its international reserves and reduce the fiscal deficit from
3 percent of gross domestic product in 2021 to 2.5 percent this year, 1.9
percent in 2023 and 0.9 percent in 2024.
Read more Region and World
Jordan News
.jpg)
.jpg)
