help information
74.3 ° F
Full Weather

Argentina official will ask IMF early release of funds

WASHINGTON — Argentina’s Economy Minister Nicolas Dujovne is in Washington to personally ask the International Monetary Fund for the early release of a credit line under a $50 billion backup financing arrangement approved earlier this year.

Dujovne was to meet IMF Managing Director Christine Lagarde after a sessiong Tuesday morning with U.S. Treasury Secretary Steve Mnuchin.

Hours before the Dujovne-Lagarde meeting, President Donald Trump spoke Tuesday with Argentine President Mauricio Macri.

Trump’s statement says “President Macri is doing an excellent job with this very difficult economic and financial situation.” That’s a reference to the economic turmoil that has sent the Argentine peso to record lows.

Macri on Monday announced new taxes on exports and the elimination of several ministries.