ECONOMY | 23-08-2019 18:40

IMF dispatches technical staff team to Argentina for visit

Fund said Friday that the team headed by Roberto Cardarelli will also meet with the economic advisers of the main candidates in the October presidential election.

The headquarters of the International Monetary Fund in Washington, DC. The IMF on Friday reached an agreement with Argentina that will release the next US$5.4 billion disbursement under the loan programme aimed to help stabilise the economy. The IMF board must approve the fourth review of the country's performance before Buenos Aires will have access to the funds. The board meeting is set for July 12. | AFP/Brendan Smialowski

The International Monetary Fund is ending a technical team to Argentina on Saturday to discuss the policy plans of President Mauricio Macri's administration.

The IMF said Friday that the team headed by Roberto Cardarelli will also meet with the economic advisers of the main candidates in the October presidential election.

Argentina's stocks and currency have lost value since presidential candidate Alberto Fernández and his unrelated running mate, former president Cristina Fernández de Kirchner, topped Macri this month by 15 percentage points in primary voting for the country's political parties- a margin large enough to suggest they might win a first-round victory in the October 27 general election.

Argentina has received US$44.1 billion since the IMF approved a $56 billion loan in 2018.

- AP