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Argentina Needs to Stick to IMF Agreement, Batakis Says

  • Government seeks balanced budget, real positive interest rates
  • Exchange rate “competitive,” country to cut energy subsidies
Argentina’s new Economy Minister Silvina Batakis in Buenos Aires, on July 4.
Argentina’s new Economy Minister Silvina Batakis in Buenos Aires, on July 4.Source: AP
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Argentina needs to achieve a balanced budget and fulfill its agreement with the International Monetary Fund, new Economy Minister Silvina Batakis said in an attempt to calm market jitters after a turbulent week.

In her first press conference since being appointed to the government’s top economic job last week, Batakis said Argentina would continue working to balance its fiscal accounts, promote positive real interest rates, and move forward with reducing energy subsidies to continue meeting targets laid out in the country’s $44 billion agreement with the IMF.