© Reuters. FILE PHOTO: A participant stands near a logo of IMF at the International Monetary Fund – World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo/File Photo
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MEXICO CITY (Reuters) – The International Monetary Fund on Monday said it welcomed Argentine authorities’ recent policy actions and commitment to safeguarding stability, rebuild reserves and enhance fiscal order.
The IMF added that its board is set to meet on Aug. 23 to approve Argentina’s 5th and 6th reviews to “unlock the agreed disbursements.”
The Fund’s comments came after the Argentine government devalued its currency by nearly 18%, while the benchmark interest rate will be hiked 21 percentage points to 118%, as pressure built on Argentina’s financial markets following a primary election.