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Argentine treasury minister to visit IMF in September

Associated PressSeptember 12, 2019

WASHINGTON (AP) — The International Monetary Fund expects Argentine Treasury Minister Hernán Lacunza to visit at the end of the month for follow-up talks on the $57 billion loan the South American country received.

IMF spokesperson Gerry Rice says Lacunza will discuss when the Fund will start a fifth review of the loan, which the executive board needs to approve before a final disbursement of $5.4 billion is made.

No precise date was given for the meeting, but it comes just about a month before presidential elections.

Argentina’s stocks and currency have plummeted since left-leaning Alberto Fernández won a 15-point lead over President Mauricio Macri in August primaries.

Lacunza has imposed restrictions on access to dollars as a response to a rapid loss of foreign reserves and an accelerating devaluation of the peso.

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