MEXICO CITY (Reuters) – The International Monetary Fund on Monday said it welcomed Argentine authorities’ recent policy actions and commitment to safeguarding stability, rebuild reserves and enhance fiscal order.
The IMF added that its board is set to meet on Aug. 23 to approve Argentina’s 5th and 6th reviews to “unlock the agreed disbursements.”
The Fund’s comments came after the Argentine government devalued its currency by nearly 18%, while the benchmark interest rate will be hiked 21 percentage points to 118%, as pressure built on Argentina’s financial markets following a primary election.
(Reporting by Adam Jourdan; Editing by Sarah Morland)