June 8, 2018 / 4:07 PM / a year ago

IMF says Argentina fiscal targets can change for social spending

WASHINGTON, June 8 (Reuters) - Argentina’s fiscal deficit targets as part of a $50 billion financing arrangement with the International Monetary Fund may change if needed to boost social spending and protect the poor, IMF Western Hemisphere director Alejandro Werner said on Friday.

Werner told reporters the South American country’s public finances must be prepared to deal with more volatile financial market conditions, but that the Fund was pleased with the government’s commitment to strengthen central bank independence as part of the deal, which was announced on Thursday evening.

Reporting by Jason Lange Writing by Luc Cohen and Nick Zieminski

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