The International Monetary Fund has named as head of its mission in Argentina, Luis Cubeddu, 53, replacing Italian born Roberto Cardarelli. Cubeddu is knowledgeable in Argentina since he was in Buenos Aires between 2002/04, during a similar financial pre-default situation, as a member of the IMF representation.
The International Monetary Fund is analyzing the impact of a new debt plan announced by Argentina’s Treasury Ministry on Wednesday, an IMF spokesman said. IMF staff understands that Argentina has taken “important steps” to address liquidity needs and safeguard reserves, the statement by IMF spokesman Gerry Rice said.
The head of the IMF mission currently in Buenos Aires for the fourth review of the economic program signed by the administration of president Mauricio Macri last year, said that the Fund does not fear a possible return of ex president Cristina Fernandez to office.
A new IMF mission is expected in Argentina this e Wednesday for the fourth review of the country's economic plan which is supported by a 36 month stand-by credit from the multilateral financial institution. It's the first IMF visit since Argentina's Central Bank major strategy change in the foreign exchange market to avoid another meltdown of the Argentine currency.
An IMF visiting team in Buenos Aires concluded its annual review of Argentina's economy and praised the efforts of President Mauricio Macri's nearly two-year-old government to transform the economy saying it has yielded significant gains, but also warned that risks remain.