IMF returns to Argentina

Argentina's government says it will host an International Monetary Fund mission next week to assess the state of the country's economy.

The economists, who will arrive Monday, aim to "gather information and exchange opinions with government officials, members of the private sector, members of Congress and civil organizations," a statement from the Ministry of Finance said.

An end to hostilities

The visit marks a drastic improvement in ties between the lender and Argentina soured in the wake of the country's default on $100 billion in debt in 2001.

It will be the first of its Article IV missions in a decade. The late President Nestor Kirchner barred the IMF from carrying out the annual reviews of member states' economic health in 2006.

His wife, Christina Fernandez, who succeeded him in office in 2007, settled all outstanding debts with the fund but did not permit the reviews to resume.

Relations with the IMF hit a low point when, in an unprecedented move, the fund censured Buenos Aires over its economic statistics in 2013. Economists said the country's official measurement of inflation and gross domestic product was inaccurate and significantlyoverstated growth. The organization last month said it was willing to lift this censure.

Comeback attempt

The government of center-right President Mauricio Macri has made foreign direct investment a key priority and has moved to establish pro-business reforms and smooth ties with international institutions.

Just days after taking office last December, Macri removed currency controls that Fernandez had imposed in 2011.

This year, Argentina has repaid foreign creditors and reached an agreement with a group of US hedge funds that sued the nation in connection with the country's 2001 default. Macri hopes the moves will allow Argentina to return to international financial markets for the first time since then.

sgb/ (dpa,AFP)