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IMF to resume Article IV missions in Argentina after 10-year hiatus

Relations are improving between IMF and Argentina due to economic policy changes introduced by President Mauricio Macri. Photograph: (AFP)

WION Buenos Aires, Argentina Sep 17, 2016, 07.32 AM (IST)
Argentina's ministry of finance has said that International Monetary Fund (IMF) economists will be arriving in the country on Monday to "gather information and exchange opinions with government officials, members of the private sector and members of Congress and civil organisations."

IMF will resume its Article IV missions in Argentina after a 10-year hiatus. During this mission, IMF is likely to assess the strengths and weaknesses of the country, AFP reported today. 

The checkups were stopped during former president Nestor Kirchner's tenure. 

"Article IV represents a new step for Argentina in its international reintegration," said the ministry.

Relations were strained after the country's default on $100 billion in debt in 2001, but ties were further affected when IMF censured Buenos Aires in 2013 for not meeting an IMF requirement that members must provide reliable, basic economic statistics.

The move marks a repairing of relations, brought by economic policy changes of President Mauricio Macri, who moved to repay defaulted debt and implement market-friendly reforms.

(WION with inputs from AFP)

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