Argentina’s new economy chief to meet IMF head on Monday

Argentina’s new Economic system Minister Silvina Batakis speaks throughout a information convention on the Economic system Ministry, in Buenos Aires, Argentina, July 11, 2022. REUTERS/Agustin Marcarian

BUENOS AIRES, July 23 (Reuters) – Argentina’s newly appointed economic system minister Silvina Batakis will meet on Monday with the top of the Worldwide Financial Fund in Washington, the federal government mentioned, as Argentina’s economic system struggles with spiraling inflation.

Argentina is the IMF’s largest debtor with a $44 billion program that was accredited by the board in late March. Argentina’s peso foreign money additionally fell to file lows this week, weighed down by a stronger greenback worldwide and a home political disaster.

Batakis was appointed lower than a month in the past after her predecessor Martin Guzman, the architect of the debt take care of the IMF, abruptly resigned with inflation working at over 60% a yr and anticipated to proceed rising.

Batakis, who has mentioned she’s going to respect the IMF accord, will meet IMF Managing Director Kristalina Georgieva. They’ve already spoken by telephone in what Georgieva described on Twitter as a “superb name.” learn extra

Argentine President Alberto Fernandez was scheduled to journey to Washington as effectively to fulfill with U.S. President Joe Biden, however the assembly was canceled after Biden contracted COVID-19.

Batakis can also be set to fulfill with representatives of the U.S. Division of the Treasury and the World Financial institution, the federal government mentioned.

Reporting by Eliana Raszewski; modifying by Marcelo Rochabrun and Grant McCool

: .