September 6, 2018 / 2:34 PM / 2 months ago

Argentina, IMF continue talks to strengthen backstop-IMF spokesman

WASHINGTON, Sept 6 (Reuters) - Argentina and the International Monetary Fund are making progress in their discussions to strengthen the $50 billion IMF-backed financial backstop for the Latin American country, with an aim “to conclude as rapidly as possible,” IMF spokesman Gerry Rice said on Thursday.

“Progress is being made in those discussions, which are now continuing at the technical level, and again, on how to further strengthen the Argentine authorities’ program, which is backed by the IMF,” Rice told a regular IMF media briefing, adding that Argentine officials were still in Washington for the talks.

Rice repeated IMF Managing Director Christine Lagarde’s statement on Tuesday that the common objective of the IMF and Argentina was “to reach a rapid conclusion to present a proposal to the IMF’s executive board.” (Reporting by Daina Beth Solomon and David Lawder Editing by Chizu Nomiyama)

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