August 30, 2018 / 11:02 PM / 3 months ago

Argentina to announce new economic measures on Monday -Treasury minister

BUENOS AIRES, Aug 30 (Reuters) - Argentina will announce a set of economic measures to reduce the 2019 fiscal deficit to below the current 1.3 percent of gross domestic product target next Monday, Treasury Minister Nicolas Dujovne told reporters on Thursday.

He said he would travel to Washington on Monday evening to meet with the International Monetary Fund (IMF) technical staff to discuss changes to a $50 billion financing deal reached earlier this year, following a 20 percent drop in the peso’s currency against the dollar in the past two days.

“We are convinced that at these exchange rate levels exaggerate the fundamentals of the Argentine economy,” Dujovne said, adding that the country would still be “competitive” with a stronger peso.

The peso closed down 13.2 percent at 39.25 per dollar on Thursday. (Reporting by Luc Cohen; Editing by Lisa Shumaker)

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