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IMF Continues To Back Western Hemisphere Director Valdes

ARGENTINA
  • IMF Managing Director Kristalina Georgieva continues to have full confidence in Western Hemisphere Director Rodrigo Valdes, following criticism from the Argentine government in recent weeks, according to IMF Chief Spokesperson Julie Kozack.
  • President Milei recently criticised Valdes’ time as Chile’s finance minister from 2015 to 2017, according to a report on Bloomberg, while Finance Minister Caputo reportedly said last month that he hoped to negotiate with other staff than Valdes, who only took up the position in May 2023. Despite this, Kozack praised the government’s austerity efforts today, as well as the recent passage of its reform package in Congress.
  • The tensions come as the Argentine government is pushing for fresh funding in a new IMF loan program. Both Georgieva and Argentine officials are expected to be in Brazil later this month for a G-20 meeting of finance ministers and central bankers, although no bilateral talks are confirmed at this time.

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