IMF focus on saving Argentina from dangerous inflation path

The pact would help refinance more than $40 billion of outstanding debt the nation has with the lender stemming from the record 2018 bailout

The International Monetary Fund is focused on getting Argentina to make economic changes to curb runaway inflation and wants a plan to increase tax revenue and improve public spending in a staff-level agreement with the nation.

The IMF recognizes that the program being worked out after an initial understanding was reached last week needs to have broader support from society, a lesson learned from the deal that collapsed in 2018, Managing Director Kristalina Georgieva said Thursday. A program would help the nation avoid an even-worse economic deterioration and increasing poverty as it battles inflation running above 50%, she said.

Georgieva underlined the