IMF Reaches Staff-Level Agreement with Argentina on a Three-Year, US $50 Billion Stand- By Arrangement
By: Christine Lagarde
Ms. Christine Lagarde, Managing Director of the International Monetary Fund (IMF), issued the following statement on the staff level agreement:
“I congratulate the Argentine authorities on reaching this agreement. As we have stressed before, this is a plan owned and designed by the Argentine government, one aimed at strengthening the economy for the benefit of all Argentines. I am pleased that we can contribute to this effort by providing our financial support, which will bolster market confidence, allowing the authorities time to address a range of long-standing vulnerabilities. As part of this support, both the IMF and the Argentine government intend to work together to ensure steps are taken, and the resources are fully available, to protect the most vulnerable in the population as economic reforms move forward.
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