IMF chief backs regional director after Argentina tensions
Adds context in paragraphs 4-6
By Rodrigo Campos
Sept 13 (Reuters) -The head of the International Monetary Fund gave her support to regional director Rodrigo Valdes on Friday, a day after the IMF had announced he would step aside from negotiations with Argentina.
"I have complete confidence in Rodrigo Valdes to lead the work of IMF's Western Hemisphere Department," said IMF Managing Director Kristalina Georgieva in a statement.
"He is an outstanding economist, a dedicated international civil servant, and a wonderful colleague. I trust Rodrigo's judgment on all matters, including on deciding to delegate the Fund's program negotiations with Argentina to his deputy, Luis Cubeddu."
The IMF said on Thursday that Valdes would delegate Argentine talks to other officials, in an announcement that came after Argentina's president Javier Milei had criticized Valdes' work. Cubeddu and mission chief for Argentina Ashvin Ahuja were named as contacts with Argentine authorities.
Thursday's move was welcomed by Milei's right-wing administration, who have criticized Chilean economist Valdes as a leftist who did not understand their program.
Argentina is the largest debtor to the IMF and has indicated it will request a new program as the current $44 billion agreement ends later this year.
Reporting by Rodrigo Campos; Editing by Leslie Adler and Rosalba O'Brien
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
