IMF Will Stand by Argentina During Crisis

The International Monetary Fund will stand by Argentina as it works through its economic crisis, Managing Director Kristalina Georgieva said on Thursday. She added that the Fund was waiting to see the future policy framework adopted by the Latin American country, which holds an election later this month in which a change of government is widely predicted, Reuters reported. “We are fully committed to work with Argentina and we are closely engaged,” Georgieva told reporters, when asked about the future of a record $57 billion line of credit given to Argentina by the IMF last year, after a market crash exacerbated a debt crisis and pushed the grain producer towards default. Georgieva, who took over as IMF chief last month, said the IMF’s will to stand by Argentina remained “as strong” as it had been under her predecessor Christine Lagarde. Read more