Argentina: Only seeking financing from IMF to stem crisis
BUENOS AIRES, Argentina — Argentina is not seeking other sources of financing outside the International Monetary Fund for help in curbing an economic crisis, the country’s economy minister said Wednesday.
Argentina has asked the IMF for early disbursements in emergency funding from a $50 billion loan approved earlier this year. The country has been hit by one of the world’s highest inflation rates and a currency crisis that has seen the peso depreciate by more than 50 per cent so far this year.
Economy Minister Nicolas Dujovne has been meeting with IMF Managing Director Christine Lagarde. He said they have made great progress and expect to reach a deal in late September.
He declined to provide details, though he denied reports that Argentina is negotiating a credit line with the U.S. Treasury or searching for other sources of financing outside the IMF.