IMF / VENEZUELA ARGENTINA US

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07-Feb-2019 00:02:03
International Monetary Fund (IMF) spokesperson Gerry Rice told reporters in Washington DC that an IMF team is scheduled to meet with Argentine officials in Buenos Aires to review progress on that country’s stabilization program with the Fund. IMF

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STORY: IMF / VENEZUELA ARGENTINA US
TRT: 02:03
SOURCE: IMF
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS

DATELINE: 7 FEBRUARY 2019WASHINGTON, DC

SHOTLIST:

RECENT - WASHINGTON, DC

1. Wide shot, exterior IMF Headquarters

7 February 2019, Washington, DC

2. Med shot, Gerry Rice, walks up to podium
3. SOUNDBITE (English) Gerry Rice, Spokesperson, International Monetary Fund (IMF):
“In her in her statement after a meeting with the minister and the governor Madam Lagarde emphasized that the implementation so far of the program have served Argentina well and we think that continued implementation will enhance the economy's, Argentine economy's resilience to shocks and preserve macroeconomic stability and bolster growth.”
4. Wide shot, reporters
5. SOUNDBITE (English) Gerry Rice, Spokesperson, International Monetary Fund (IMF):
“We support the Fed's recent policy decision to be patient in determining future changes to the federal funds rate.”
6. Med shot, reporter
7. SOUNDBITE (English) Gerry Rice, Spokesperson, International Monetary Fund (IMF):
“In our view the Fed continues to adhere to the principles of data-dependence and clear communication which helps to minimize market disruption and spillovers from its policy decisions.”
8. Med shot, reporter
9. SOUNDBITE (English) Gerry Rice, Spokesperson, International Monetary Fund (IMF):
“I think, you know, countries are still establishing their position in terms of recognition. So, that process is ongoing. So, as I said we are watching that closely and we will be guided by the membership once we feel and they feel that there's an established view with which they could guide us. So, I think we're just watching it very closely at this point.”

Washington, DC – Recent

10. Wide shot, exterior IMF Headquarters

STORYLINE:

International Monetary Fund (IMF) spokesperson Gerry Rice told reporters today (7 Feb) in Washington DC that an IMF team is scheduled to meet with Argentine officials in Buenos Aires to review progress on that country’s stabilization program with the Fund.

Rice withheld comment pending the conclusion of those meetings set to begin on 11 February but noted that Managing Director Christine Lagarde had recently expressed support for measures taken so far.

Rice said, “in her in her statement after a meeting with the minister and the governor Madam Lagarde emphasized that the implementation so far of the program have served Argentina well and we think that continued implementation will enhance the economy's Argentine economy's resilience to shocks and preserve macroeconomic stability and bolster growth.”


The IMF supports the United States (US) Federal Reserve call for patience as a commitment for data-driven and prudent policy stance.

Rice said, “we support the Fed's recent policy decision to be patient in determining future changes to the federal funds rate.”

Fed Chairman Jerome Powell pointed to muted inflation pressure on the US economy as an indication the institution would pause its tightening measures for the time being.

Rice added, “in our view the Fed continues to adhere to the principles of data-dependence and clear communication which helps to minimize market disruption and spillovers from its policy decisions.”

And as economic and political turbulence rocks Venezuela, Rice said “countries are still establishing their position in terms of recognition. So, that process is ongoing. So, as I said we are watching that closely and we will be guided by the membership once we feel and they feel that there's an established view with which they could guide us. So, I think we're just watching it very closely at this point.”

The Fund has had limited official communications with Venezuelan authorities in recent years, with the last Article IV being concluded in 2004. The government of Nicolas Maduro recently offered its first economic data set in many years to the IMF after facing censure by the Executive Board for failure to comply with provisions to share information with the Fund.

The Board is still considering the accuracy and extent of that data, Rice said, and concerning the current competing claims to the Presidency in Caracas, the IMF will take its guidance from the stance of its member nations, Rice told reporters.
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IMF
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unifeed190207g
Asset ID
2355722