August 31, 2018 / 5:12 PM / 4 months ago

World Bank offers 'strong support' for Argentina amid market turbulence

A man looks at a currency exchange electronic board in Buenos Aires' financial district, Argentina August 31, 2018. REUTERS/Marcos Brindicci

WASHINGTON (Reuters) - The World Bank expressed “strong support” for Argentina on Friday, days before the government of President Mauricio Macri was set to unveil new economic measures in a bid to calm market jitters that sparked a 30 percent dive in the local currency.

“The World Bank expresses its strong support to Argentina in the current context of continued market turbulence,” a spokesman for the global poverty-fighting institution said. 

The World Bank plans to make $1.75 billion in previously announced commitments available to the country within the next 12 months, the spokesman said. A program to strengthen and expand support for children would be considered by the World Bank board within several weeks, he added.

Reporting by Lesley Wroughton; Editing by Jeffrey Benkoe

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