IMF recognizes progress in Argentina’s economic stability recovery

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By LatAm Reports Editorial Team

The first deputy managing director of the International Monetary Fund (IMF), Gita Gopinath, said Thursday that the agency recognizes the efforts of the new Argentine government to restore macroeconomic stability.

“In my meetings with President (Javier) Milei and his economic team, I recognized the important initial advances in the restoration of macroeconomic stability and the establishment of a strong fiscal anchor,” Gopinath said in a statement after a meeting with the president.

He added that the way forward remains challenging, and consistent and well-connected monetary and exchange rate policy will be needed to further reduce inflation, rebuild reserves and strengthen credibility.

He also stressed that the government, which took over in December, must ensure that the weight of the adjustments does not fall on the working class.

He added that his team will continue to work with the government on efforts to recover the South American country’s economy.

The meeting with Milei and his team, which took place in the presidential office, took place to analyze the adjustment reforms carried out by the Argentine Executive within the framework of the current program with the South American country to refinance a debt of 44 billion dollars assumed by the Government of Mauricio Macri between 2018 and 2019 (2015-2019)

On his first visit to Buenos Aires, Gopinath also met with the top of the country’s main workers’ centre, the General Confederation of Labour, with businessmen and civil society organizations.

This article has been translated from the original which first appeared in El Pais