Argentina and the International Monetary Fund (IMF) are working intensively to reach an agreement on the fifth review of the country’s standard credit program, IMF spokeswoman Julie Kozak said.
“The IMF is working intensively with Argentina to help make progress and move forward to finalize the fifth review,” International Monetary Fund (IMF) spokeswoman said.
Argentina is seeking to ease targets set in the US$44.5 billion credit program approved by the government.
Under the terms of the deal, Argentina must increase its international reserves at the central bank and reduce its fiscal deficit from 3% of GDP in 2021 to 2.5% in 2022, 1.9% in 2023, and 0.9% in 2024.
Argentina’s economic situation has worsened since then, with annual inflation now running at more than 110%.
