LONDON, June 5 (Reuters) - Argentina is making good progress in discussions with the International Monetary Fund for a support programme, Marcos Pena, cabinet chief of President Mauricio Macri, said on Tuesday.
Buenos Aires has requested assistance from the IMF in the form of an ‘exceptional access standby arrangement’ that could be worth up to almost $20 billion economists estimate.
“We are making good progress,” Pena said during a briefing at London’s Chatham House institute, declining to give further details on either the size or the timing of any potential programme.
Pena also said his government expected to cut public spending as part of gross domestic product to 38 percent from 42 percent by year-end. (Reporting by Karin Strohecker; editing by Marc Jones)