Argentina's President-elect Alberto Fernandez in San Miguel de Tucuman, Argentina. File photo/ Reuters
US President Donald Trump called Argentine President-elect Alberto Fernandez to congratulate the center-left politician for winning Sunday’s election and discuss the South American country’s troubled economy.
Fernandez sent a tweet saying Trump told him he had “instructed the International Monetary Fund to work with us to resolve the problem of our debt.”
The IMF extended a $57 billion credit line to the recession- and inflation-racked country last year when a run on the peso currency sparked concerns about a possible sovereign bond default.
“I thanked him for the gesture and told him of my intention to maintain mature and cordial relationship with the United States,” the tweet said.
The White House said in a statement the two leaders discussed bilateral relations and that Trump expressed US support for helping Argentina “overcome economic challenges”.
The IMF deal, negotiated with Argentina’s outgoing President Mauricio Macri, has been in limbo since the Aug.11 primary election, which Fernandez won by a higher-than-expected margin. The primary result prompted a steep sell-off in Argentine asset prices, and revived debt fears.
The peso steadied this week, helped by central bank interventions, after Fernandez’s Oct.27 election win. The currency closed Friday at 59.745 to the US dollar.
For the first time since the Great Recession a decade ago, the US Federal Reserve is poised to cut interest rates, shoring up America’s defenses as the global economy weakens.
David Malpass, US President Donald Trump’s nominee to lead the World Bank, won unanimous approval from the institution’s executive board, continuing the 73-year tradition of an American running the world’s largest development lender. The bank said that Malpass, the US Treasury’s undersecretary for international affairs, will start his new role on Tuesday as the World Bank and International Monetary Fund
China accused the United States of “naked economic terrorism” on Thursday as Beijing ramps up the rhetoric in their trade war. The world’s top two economies are at loggerheads as trade talks have apparently stalled,
The Sharjah Human Resources Directorate (SHRD) announced the work hours for the Holy month of Ramadan in government departments in the Emirate of Sharjah.
The helicopter made a forced touchdown right on an abandoned land close to the Kerala College of Fisheries and Ocean Research near Panagad.
The Atomic Energy Organization of Iran, the civilian arm of its nuclear programme, did not immediately issue a formal statement about the incident on its website.