Argentina’s new economy minister Silvina Batakis is set to meet with the head of the International Monetary Fund in Washington on Monday, with the fight against soaring inflation leading the agenda.
Batakis was appointed earlier this month after her predecessor Martin Guzman stepped down. Guzman had been responsible for agreeing a $44bn debt relief package with the IMF which saw the nation become the fund’s largest debtor.
During Guzman’s tenure year-on-year inflation in Argentina had risen to over 60%, whilst the peso has fallen to record lows. Inflation is expected to continue to climb over the coming months.
Batakis, who has said she will respect agreements already in place with the IMF, has already spoken by telephone with IMF Managing Director Kristalina Georgieva, and the pair will now meet face to face. Georgieva described their previous call as “very good” on Twitter.
Batakis will also meet with representatives of the US Department of the Treasury and the World Bank during her visit.
Argentine President Alberto Fernandez had also been scheduled to fly to Washington, but his meeting with Joe Biden was canceled after the US President contracted Covid-19. The meeting is expected to be rescheduled following the President’s recovery.