By Rodrigo Campos
(Reuters) – The International Monetary Fund said on Tuesday discussions with Argentina on a new program are “advanced,” and that fund staff and its board have also met as part of the program’s proceedings.
The IMF board was expected to meet on Tuesday, with Argentina’s qualification for a new program under the fund’s Exceptional Access Policy on the agenda, given that the country has borrowed beyond the fund’s regular lending limits.
The EAP requires informal meetings with the board ahead of any agreement announcement, in part to guarantee that the loan criteria are met.
The fund gave no further details and the Argentine government declined to comment.
Earlier this month, spokesperson Julie Kozack said the fund was “continuing to make good progress toward a program, and we are working constructively with the Argentine authorities in this regard.”
(Reporting by Rodrigo Campos in New York, additional reporting by Maximilian Heath in Buenos Aires; Editing by Stephen Coates)
Comments