Buenos Aires Times

argentina POTENTIAL MEET WITH LAGARDE

G7 guest Macri travels to Canada in wake of IMF announcement

The Argentine head of state is scheduled to hold meetings with Trudeau and German Chancellor Angela Merkel, among others. 

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President Mauricio Macri and his wife Juliana Awada travel to Moscow.
President Mauricio Macri and his wife Juliana Awada travel to Moscow. Foto:Télam

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President Mauricio Macri will travel to Charveloix, Canada on Friday afternoon to participate as a guest at the G7 summit.

Macri was invited in April by Canadian Prime Minister Justin Trudeau.

The Argentine head of state is scheduled to hold meetings with Trudeau and German Chancellor Angela Merkel, among others. 

President Mauricio Macri will meet with International Monetary Fund (IMF) managing director Christine Lagarde, media reports suggested.

On Thursday, the government confirmed it agreed to a deal with the IMF for a stand-by loan of US$50 billion over a three-year period.

Macri announced in May that Argentina would seek a financing deal with the IMF following the sharp devaluation of the peso and amid a tough global outlook.

The decision unsettled many Argentines, some of whom blame the IMF for introducing policies that led to the country’s economic implosion in 2001 and its record US$100-billion bond default in 2002. The crisis left one of every five Argentines out of work.

Macri argued that Thursday’s deal was needed to avoid another economic implosion. The IMF deal “is very important starting point,” Macri told reporters several hours before the loan was announced.

-TIMES

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