日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
World
Home / World / Americas

Argentina seeks early release of loan

China Daily | Updated: 2018-09-06 09:22
Share
Share - WeChat
IMF Managing Director Christine Lagarde (right) greets Argentine Treasury Minister Nicolas Dujovne before their meeting. [Photo/Agencies]

Trump backs Macri's handling of the worsening economic crisis

WASHINGTON - Argentina has "made progress" in talks with the International Monetary Fund aimed at securing an accelerated disbursement of a $50 billion loan it hopes will calm its debilitating economic crisis.

IMF Managing Director Christine Lagarde said she and Argentina's Finance Minister Nicolas Dujovne held "discussions about how the fund can best support Argentina in the face of renewed financial volatility and a challenging economic environment".

Lagarde said talks would continue on Wednesday, aiming to reach "a rapid conclusion to present a proposal to the IMF Executive Board".

Dujovne said Argentina will have to wait at least until the second half of September to find out whether the IMF will agree to the early release of the loan.

Earlier, US President Donald Trump expressed "strong support" for Argentina, whose President Mauricio Macri has announced plans to slash the country's bureaucracy and raise taxes on exports to calm battered financial and currency markets and get the economy back on an even keel.

Trump's backing for Macri is important because the United States is the largest member on the IMF's 24-member executive board. The board would need to approve any new agreement with Argentina.

The peso has lost half its value against the dollar this year, hampering government efforts to get inflation under control. Argentina has already used a first $15 billion tranche of the three-year line of credit agreed in June, mainly to prop up its currency.

Analysts warned that failure to reset the terms of the IMF loan would be costly.

"Failure to secure further IMF funding or fiscal slippage before large debt repayments due in November would make default a very real possibility," said Capital Economics in a note.

Andres Abadia of Buenos Aires consultancy Pantheon said Argentina's austerity measures "should be seen as a positive, but market confidence in Argentina remains fragile".

"The meeting with the IMF will probably help to have a clearer picture of the country's prospects," Abadia said.

The Washington talks came a day after Macri announced he is slashing the number of government ministries by half and restoring a tax on booming grain exports to bring deficits under control.

The move signaled the abandonment of a gradualist approach to reducing inflation by the market-friendly president, who was elected in 2015. "We must move a lot faster," Marci said in a televised address.

Economic reform

Macri, a center-right politician elected on a commitment to economic reform, appealed to rich exporters to do their bit.

"We know that this is a bad tax, but I have to ask them to understand that it is an emergency and we need their contribution," he said.

At the current exchange rate, the move would put an extra $7.1 billion in state coffers.

Argentina's 25 percent-plus inflation has left many struggling, and hundreds took to the streets in noisy protests around Buenos Aires on Monday.

Twelve of Argentina's 22 government ministries will be closed or merged under the measures, including two key portfolios, health and labor.

Santiago Ponce, a labor ministry worker, said slashing the government was a bad sign.

"Halving ministries implies a really dire situation for the public administration and the state. They are reducing the state, they are shrinking it, the state is losing its power to regulate."

Argentina has already pledged to cut its budget deficit to 1.3 percent of GDP in 2019, but at a news conference before leaving for Washington on Monday, Dujovne said it would go further next year and eliminate its primary deficit-its borrowing needs before debt servicing.

The current deficit target for 2018 is 2.7 percent of GDP.

AFP/AP/Reuters

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 国产毛片a精品毛 | 日本福利视频 | 99热com | 国产人成精品一区二区三 | 男人用嘴添女人下身免费视频 | 国产欧美曰韩一区二区三区 | 免费人成又黄又爽的视频强 | 色综合成人| 午夜影院免费 | 国产精品视频在线观看 | 深夜寂寞影院 | 日韩在线黄色片 | 波多野吉衣一区二区三区四区 | 999热精品视频 | 精品国产一区二区三区久久影院 | 日韩在线免费视频观看 | 国产淫语对白在线视频 | 亚洲一区播放 | 欧美日韩中文字幕在线 | 国产一区二区三区在线 | 高清久久| 免费的色网站 | 一区二区日本 | 日韩欧美在线播放 | 91看片淫黄大片在看 | 天天看片中文字幕 | 色版网站 | 一级免费看片 | 日本精高清区一 | av激情影院| 精品一卡2卡三卡4卡免费视频 | 二区视频 | 国产99久久精品一区二区永久免费 | 国产精品毛片久久久久久 | 色先锋av资源中文字幕 | 欧美综合自拍亚洲综合图片区 | 国产成人精品福利站 | 午夜视频在线观看免费视频 | 白白操在线视频 | 一级视频在线免费观看 | 日本黄色免费片 |