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