IMF says 'important progress' made toward new deal with Argentina

BUENOS AIRES (Reuters) - The International Monetary Fund has held productive meetings with Argentine officials in Buenos Aires aimed at revamping the country's standby loan agreement, the Fund said in a statement on Monday.

"Important progress is being made toward strengthening Argentina's economic policy plan, supported by a stand-by arrangement with the IMF. We are working hard to conclude these staff-level talks in short order and present a proposal to the IMF executive board," the statement said.

(Reporting by Eliana Raszewski, writing by Hugh Bronstein; Editing by Chizu Nomiyama)