BUENOS AIRES (Reuters) - The International Monetary Fund (IMF) will not set a particular exchange rate for the Argentine peso as a condition on a financing deal for the South American country, a spokesman for the Washington-based lender said on Monday.
“Argentina has a floating exchange rate whose value is determined by the market. We fully support this policy,” the spokesman said. “There have not been discussions about a specific target for the exchange rate.”
Argentina announced last week that it is negotiating a stand-by arrangement with the IMF.
Reporting by Eliana Raszewski and Luc Cohen; Editing by Chizu Nomiyama