IMF Conducts Virtual Discussions With Argentina On New Program - Spokesperson

WASHINGTON (UrduPoint News / Sputnik - 10th September, 2020) The International Monetary Fund (IMF) is conducting virtual discussions with Argentina over Buenos Aires' request for the new support program, IMF spokesman Gerry Rice told reporters on Thursday.

"At the moment, our discussions are taking place online, so I do not have a dates for a physical IMF visit Argentina," Rice said during the virtual press briefing.

Buenos Aires requested a new IMF-supported program very recently, so all sides just began discussions, he added, noting a "very constructive" climate of negotiations.

"We look forward to continue to engage with the Argentine authorities in the period ahead to discuss their plans to strengthen macroeconomic stability, kick start growth and job creation, reduce poverty and unemployment, and, of course, to help Argentina fight the pandemic," Rice said.

The IMF approved in June 2018 a $50 billion stand-by loan to Argentina and later that year agreed to increase the loan to $56.3 billion.

Under the administration of former President Mauricio Macri, Argentina received $44 billion of the IMF loan. The new president, Alberto Fernandez, said that his government would not take the rest of the loan and would review the repayment schedule.