Economic news

IMF, China Ready to Work with new Argentina Leader Milei

LONDON, Nov 20 (Reuters) - Kristalina Georgieva, head of the International Monetary Fund, and a spokesperson for China's foreign ministry said on Monday they were ready to work with Argentina's president-elect Javier Milei.

Argentina elected right-wing libertarian Javier Milei as its new president on Sunday, rolling the dice on an outsider with radical views to fix an economy battered by triple-digit inflation, a looming recession and rising poverty.

The IMF has a $44 billion loan program with Argentina.

"We look forward to working closely with (Milei) and his administration in the period ahead to develop and implement a strong plan to safeguard macroeconomic stability and strengthen inclusive growth for all," Georgieva said in a post on X.

China, another key lender to Argentina, also congratulated the South American country on its election.

"We stand ready to work with the Argentine side to continue our friendship, boost our respective development and revitalization with win-win cooperation, and promote the steady and long-term development of China-Argentina relations," foreign ministry spokesperson Mao Ning told a regular press briefing.

Reporting by Karin Strohecker and Liz Lee in Beijing; editing by Marc Jones and Mark Heinrich

Source: Reuters

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