Argentina Making Fiscal Progress

Argentina is “unequivocally” making progress on its goals to cut its fiscal deficit as part of a $50 billion International Monetary Fund program, Fund Managing Director Christine Lagarde said on Saturday, Reuters reported. Lagarde told reporters at the G20 meeting of finance ministers and central bank governors in Buenos Aires that IMF staff consulted with Argentine officials after June’s inflation level of 29.5% printed above the target band, but that Argentina’s inflation goals were “attainable”. “We have respect and encouragement for the policies that are being developed by the government of Argentina,” Lagarde said. She also conferred with President Mauricio Macri. Finance ministers and central bank governors of G20 members will discuss global trade tensions at the Buenos Aires convention center beginning Saturday. US President Donald Trump’s protectionist policies that have seen him slap steep tariffs on steel and aluminum, angering allies such as the EU, Canada and Mexico, already looked set to fashion discussions between them during two days of meetings.