February 22, 2020

Ms. Kristalina Georgieva, Managing Director of the International Monetary Fund, met with Mr. Martín Guzmán, Economy Minister of Argentina on the sidelines of the G-20 Finance Ministers and Central Bank Governors Meeting in Riyadh, Saudi Arabia. Ms. Georgieva issued the following statement at the conclusion of the meeting:

"Minister Guzmán and I had a very fruitful exchange of views on the country’s challenges, and the path forward to ensure a more sustainable and inclusive growth for Argentina. I commended the efforts thus far, under the leadership of President Alberto Fernández, to put in place a set of policies to stabilize the economy and to reduce poverty.

"Building on the findings of the recent IMF staff mission to Buenos Aires, we also discussed the authorities’ plans to secure a sustainable and orderly resolution of Argentina’s debt situation. In this context, I welcomed the Argentine authorities’ commitment to continue to deepen our engagement including through an Article IV Consultation and steps toward a Fund-supported program in the future. The modalities of these next steps will continue to be discussed.

"As I have said from the start, our commitment and focus are with Argentina and its people. We want to see the Argentine economy recover in a durable manner, poverty to be reduced and Argentineans prosper."