IMF urges Argentina to continue reforms, protect poor

The IMF on Thursday urged Argentina to stay the course on tough economic reforms, but also to take steps to protect the poor from the negative consequences. In the first report on the nation’s economy in a decade, marking full restoration of relations between Buenos Aires and the International Monetary Fund, the fund said it will take time for the reforms to bear fruit and there will be “negative short-term impact” of the policy changes. The IMF last month forecast the Argentine economy will contract by 1.7 percent this year followed by a 2017 rebound as the reforms take hold, with growth of 2.7 percent expected.

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