
One year since its start, it has become clear that the IMF program in Argentina has failed to deliver on its promises to fix the economy while protecting the most vulnerable. Despite the worsening economy, large human costs, and a significant downward adjustment of growth projections, the IMF is doubling down on its austerity approach and requiring additional spending cuts to meet budget targets.

Brazilian President Jair Bolsonaro said on Sunday that it could take up to three years for the free-trade deal agreed by the European Union and Mercosur to come into force, as it depends on approvals by lawmakers of all countries involved.

EU leaders are meeting in Brussels in a new effort to decide who should get the EU's top jobs, including a successor to Commission chief Jean-Claude Juncker. Centre-right leaders from the EU's biggest political group played down the chances of agreement on Sunday on a new Commission president.

“Now I only have to recover the Malvinas Islands” said Argentine foreign minister Jorge Faurie, following the trade and association agreement reached on Friday in Brussels between Mercosur and the European Union.

The European Union and Mercosur reached on Friday a political agreement for an ambitious, balanced and comprehensive trade agreement. The EU is the first major partner to strike a trade pact with Mercosur, a bloc comprising Argentina, Brazil Paraguay and Uruguay.

United States president Donald Trump said trade negotiations with China were back on track after excellent talks on Saturday with his Chinese counterpart Xi Jinping in which Washington reportedly agreed to hold off on new tariffs.

Alberto Fernandez, the main challenger to incumbent President Mauricio Macri in October elections, said on Thursday that if elected he would seek to “rework” Argentina’s huge financing deal with the International Monetary Fund, calling it “harmful.”

The IMF through its spokesperson at its daily press meeting confirmed that Managing Director Christine Lagarde and her deputy David Lipton effectively met with Argentine president Mauricio Macri, and Economy minister, Nicolás Dujovne at the G20 summit in Osaka, Japan.

By Tsvetana Paraskova for Oilprice.com - After years of drilling and development and billions of U.S. dollars of investment, Argentina’s vast shale play Vaca Muerta has finally seen the first tangible results with the first exports of light crude oil and liquefied natural gas (LNG) from the resource-rich formation.

Argentina's trade surplus in May reached US$ 1.373m, the highest in five years and a record nine months running with positive results, reported on Wednesday the country's stats office, Indec.