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ARGENTINA | 09-05-2019 10:02

Trump offers support for economic reforms in call with Macri

Trump and Macri "discussed important Argentine economic reform measures implemented by President Macri, and also discussed regional challenges," a White House spokesman said in a statement. 

US President Donald Trump spoke with President Mauricio Macri on Wednesday to voice support for Argentina's economic reforms, the White House said in a statement.

Trump and Macri "discussed important Argentine economic reform measures implemented by President Macri, and also discussed regional challenges," a White House spokesman said in a statement. 

"President Trump expressed strong support for President Macri's pro-growth economic agenda and the strides he has made in modernising the Argentine economy."

Macri, under pressure over a misfiring economy six months ahead of presidential elections, has implemented series unpopular austerity policies to try to restore stability in the face of soaring inflation, huge debt obligations and a currency crisis.

The measures came in exchange for a US$56-billion loan from the International Monetary Fund. An IMF team is currently in Buenos Aires to review the government's performance under the terms of the loan.

Macri seeking agreement on a 10-point list of reforms with the country's main political and social leaders that includes maintaining fiscal stability, boosting exports and reducing taxes.

Inflation has reached 55 percent and the IMF estimates the economy will contract 1.2 percent this year, after falling 2.5 percent in 2018.

- TIMES/AFP

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