Argentina Shows Its Commitment To The IMF

Forex News

In the letter of intent to the IMF, Argentina government announced it would like to lower its fiscal deficit, make its central bank autonomic and take additional measures in order to hit the targets of the 50 billion dollars program. The government will present to the Congress its revenue projections within the next few months and make sure they are "appropriately conservative". It will also halt hiring in the federal civil service for 2 years. Gas and transportation subsidies will be canceled and some parts of a tax reform will be more accented.

The government will present a new charter on the central bank to Congress by March 2019 so that the Bank would be granted with independence with adequate levels of capital by December 2019. The policies are hailed to be: "adequate to achieve the macroeconomic and financial objectives of the program".