Dec 4 (Reuters) – Argentina’s monetary and foreign exchange policies will need to support a stronger accumulation of reserves to facilitate the country’s access to international capital markets, the International Monetary Fund said on Thursday.
“Monetary and FX policies will need to support a more ambitious reserve accumulation path to build adequate buffers in Argentina,” said IMF spokesperson Julie Kozack in a scheduled press briefing. “This will help Argentina better address shocks, and it will also help facilitate a timely re-access to international capital markets.”
Argentina has signalled it is looking to issue international bonds under specific scenarios, while local governments and corporations have already begun to tap the market.
The fund said it will assess the next set of targets included in its Argentina program at the end of December, after which a new review could be scheduled. There is no date set yet for the next country mission, Kozack said.
(Reporting by Rodrigo Campos and Andrea Shalal)
Comments