Next week, Argentina is set to announce sweeping austerity measures with an aim to stem the country’s currency crisis. The government is seeking the International Monetary Fund’s approval of a USD 50 billion bailout.
Further information on Argentina’s plans to cut its primary deficit next year is due to be unveiled. Argentina has already agreed to cut its budget deficit to 1.3% of GDP under the IMF’s program.
As part of the agreement with the IMF, Argentina affirmed its commitment to reducing its fiscal deficit by cutting its government spending.
Argentina and the International Monetary Fund agreed on a three-year USD 50 billion stand-by financing deal in June 2018. The government of the South American country pledged to combat inflation.
