NEW YORK (Reuters) – The International Monetary Fund said on Thursday it is evaluating Argentina’s federal budget proposal and enhanced foreign exchange controls as part of its discussions over a new program for the South American country.
The country’s central bank further tightened currency controls on Tuesday in a bid to protect its dwindling dollar reserves, triggering a tumble in the black market peso.
“We are currently assessing these measures and will be discussing them with the authorities in the context of our ongoing dialogue,” the IMF said through a spokesman.
The federal budget, also unveiled on Tuesday, aims for a fiscal deficit of 4.5% of gross domestic product in 2021 and an ambitious economic rebound of 5.5%.
Late last month, the government officially requested a new program with the IMF to replace the $57 billion one signed by the previous government in 2018.
(Reporting by Rodrigo Campos; editing by Jonathan Oatis)