Argentina asks IMF to increase end-September goal for primary fiscal balance

 Argentina asks IMF to increase end-September goal for primary fiscal balance

BUENOS AIRES (Reuters) - Argentina requested several modifications to its $57 billion International Monetary Fund financing deal, including an increase in its end-September goal for the country's primary fiscal balance, the fund said on Monday.

Argentina requested an expansion of the primary fiscal goal to a stricter 70 billion pesos, up from 60 billion pesos, the IMF said in a press release announcing its approval of the fourth review of the deal.

The IMF estimated inflation will be 40.2% in 2019, up from its previous estimate of 30.5%. The Fund also predicted Argentina's economy will shrink 1.3% in 2019, more than its previous estimate of 1.2%.

(Reporting by Eliana Raszewski and Cassandra Garrison; Editing by Chizu Nomiyama)

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Updated Date: Jul 16, 2019 02:05:12 IST