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IMF to reopen office in Argentina


The International Monetary Fund said Monday it has decided to reopen an office in Argentina, six years after leaving.

The decision came days after Buenos Aires reached a deal with the IMF on the money supply, interest rates and an exchange rate framework.

In exchange for these measures, the Fund agreed to speed up payment of a $50 billion loan granted in June to Latin America's third-largest economy, now in another economic crisis.

Economist Trevor Alleyne, an IMF staffer since 1992, will be the Fund's representative in Buenos Aires.

He has overseen IMF missions in countries such as Nigeria, Zambia, Jamaica, Peru, Venezuela and Ecuador.

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