Race is tight in a runoff between Sergio Massa and Javier Milei on Nov 19
LONDON - The International Monetary Fund has hardened its view on how Argentina is running a $44 billion loan programme that has gone off track ahead of the country's key presidential vote later in November, according to three sources with direct knowledge.
With "depleted reserves and an overvalued currency, recent economic measures are not aligned with the programme," a second source added.Argentina's central bank has intervened in the parallel FX market for "a sizeable $2.7bn in the last three months as FX pressures have been rising amid the election cycle," according to a JPMorgan note. The bank added that negative net foreign currency reserves stand at $15.3bn.
The harder stance from the IMF reflects a view that despite the concessions, the programme is sliding further off the rails - which could jeopardise future disbursements.It also comes at a sensitive time for the cash-strapped country, which has a review of the programme scheduled for early November. A review is a key step needed for the country to reach a staff level agreement that - once signed off by the Fund's executive board - would trigger the next tranche of financing.
Farmers were facing losses of over $14bn in soy, wheat and corn production, according to the Rosario grains exchange.IMF wants to end tube wells subsidy as first review of $3bn deal is in progress
پاکستان تازہ ترین خبریں, پاکستان عنوانات
Similar News:آپ اس سے ملتی جلتی خبریں بھی پڑھ سکتے ہیں جو ہم نے دوسرے خبروں کے ذرائع سے جمع کی ہیں۔
Fashion brand Dior replaces pro-Palestine Bella Hadid with Israeli modelBella has previously admitted that her pro-Palestine stance has cost her numerous fashion contracts
مزید پڑھ »
Gas tariff jacked up in line with IMF agreementAnother IMF condition met: Gas tariff increased
مزید پڑھ »
Pakistan And IMF Negotiation Update | Shamshad Akhtar Big News | Breaking NewsLatest News, Breaking News, Pakistan News, News Headlines
مزید پڑھ »
Pakistan Economy Situation | IMF Big Demand | Inflation In PakistanLatest News, Breaking News, Pakistan News, News Headlines
مزید پڑھ »
Pakistan Economy Situation | IMF Big Demand | BOL Biyopaar | 07 Nov 2023Latest News, Breaking News, Pakistan News, News Headlines
مزید پڑھ »
IMF Executive Board approves proposal to increase members' loan, contribution quotasFinal decision to taken by the Board of Governors; Move enhance Pakistan’s possible share too
مزید پڑھ »