IMF offers strong backing for Latam economies
Reuters, Thursday, September 03, 1998 at 20:40
WASHINGTON, Sept 3 (Reuters) - The International Monetary
Fund (IMF) on Thursday offered strong support for Latin
American economic policies but stopped short of pledging
immediate cash to help the region through its financial woes.
In a statement during a meeting of regional financial
officials, the IMF said it was confident that countries in the
region would stay on economic track and continue to show
positive growth and low or declining inflation.
"The Fund is already supporting a number of the countries
in the Western Hemisphere region with ongoing arrangements, and
Fund management stands ready to recommend the strengthening and
broadening of this support, if necessary," the statement said.
"It was expected that most countries in the region would
continue to show positive output growth, and low or declining
inflation," it added.
Top Latin American economic officials attending the meeting
said in the statement they reaffirmed their commitment to
sustained growth through policies including the maintenance of
open capital markets and of their current exchange rate
policies and regimes.
The officials said that if economic pressures were to
intensify, they stood ready to adapt their policies,
"especially in the monetary and fiscal areas, as needed to
preserve overall macroeconomic stability."
Copyright 1998, Reuters News Service |
