The International Monetary Fund has urged Argentina's government to keep to its economic programme, saying it remains the best way to lower the country's borrowing risk, MercoPress reports.
IMF spokeswoman Julie Kozack told a briefing in Washington that building up reserves and strengthening Argentina's external position were essential. Asked about local reports of a possible technical recession, she said both sides agreed on the need to turn stabilisation into growth and jobs, and listed four steps: deeper capital and mortgage markets, more flexible labour rules, progress on infrastructure concessions, and support for large investments.
On Tuesday IMF staff and the government reached agreement on the third review of the loan programme, which could unlock about $900m. The Fund's board may consider it in early December.
Source: MercoPress
