IMF Team To Visit Argentina Next Week Amid Growing Economic Crisis - Macri

BUENOS AIRES (UrduPoint News / Sputnik - 23rd August, 2019) Representatives from the International Monetary Fund (IMF) are due to arrive in Argentina next week amid the country's deepening financial crisis, Argentine President Mauricio Macri said Thursday.

On Tuesday, the IMF said that it would "soon" send a team to the South American country following Argentina's sudden stock market crash in early August.

"The mission will arrive next week," Macri said at a democracy and development seminar.

Argentina's economy went into shock last week after center-left opposition presidential candidate Alberto Fernandez won the primaries over center-right incumbent Macri.

The national Currency has been in free fall since the results were announced and on Monday dropped to 65 Argentine pesos against the US Dollar. The national stock market also dropped 38 percent, reaching a historic low.

On Saturday, former Argentine Treasury Minister Nicolas Dujovne resigned over the Primary results, saying that the country needed a "significant renewal" of its economy. His successor, Hernan Lacunza, said on Tuesday that stabilizing the national currency would be his first priority.