The IMF reiterated its support for Argentina's monetary policy: "They will achieve low inflation"

he The International Monetary Fund (IMF) reiterated on Thursday its support for Argentina's monetary policy and economic program. Spokesman of the international organization, Gerry Rice, said the Mauricio Macri government's plan would result in "a drop in inflation and an efficient functioning of the financial system".

Rice's words come after the agency itself updated the report on the global economic outlook and established that Argentina's growth by 2020 will be 1.1%instead of 2.2%, as expected in April. Support is also granted a few weeks after the PASS and in a context of volatility of the dollar, which exceeded the threshold of $ 44 on Thursday.

"We support the policy framework of the Central Bank and the technical adjustments made in this framework.Rice said at a press conference, adding that the contraction in growth "was expected" and that the recovery "was projected a little more modest than expected in April."

On July 12, the IMF approved the revision of the accounts of Argentina, which will disburse an additional US $ 5,400 million in October, part of the budget. Loan of $ 57,300 accepted in 2018. In turn, he accepted Macri's request to increase the number of programs in which GDP can be used in social spending.

"The conclusion of the review allows the authorities to rotate SDR 3.9 billion (about US $ 54 billion), bringing total disbursements in June 2018 to SDR 31.9 billion (about US $ 54 billion). , 1 billion USD), "said the agency in a statement. that then. In addition to the turning point that will occur before the end of the year, there will be another delivery in the first months of 2019, which could be received by Macri or by the political force imposed during the elections.

For her part, Rice said that the board of directors would meet soon to define the selection process of the new managing director of the Fund, following the recent resignation of Christine Lagarde to the European Central Bank.

"The board will meet soon to review the selection process and we hope that this meeting will take place immediately after the summer break," said the spokesman.