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Source: Buenos Aires Herald
By: Herald Staff
09.30.2016

The International Monetary Fund (IMF) yesterday gave signs of backing President Mauricio Macri’s administration, praising it from multiple fronts as a two-week visit to the country came to an end, but added that more reforms are needed to achieve economic growth.

The IMF congratulated the government for “its commitment to lower inflation to one-digit levels and to cut the fiscal deficit,” adding that “when it took office, it was facing generalized macro-economic imbalances, micro-economic distorsions and a weak institutional context.”

Those were the words of a press release issued in Washington, after a technical team directed by Roberto Cardarelli visited the country from September 19 until yesterday as part of an audit into the state of the country’s economy in line with the proceedings established by the IMF’s Article IV.

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