Argentina makes 'progress' in IMF loan talks

WASHINGTON, Sept 05 (AFP): Argentina "made progress" on Tuesday in talks with the International Monetary Fund aimed at securing an accelerated disbursement of a $50 million loan it hopes will calm its debilitating economic crisis.

IMF Managing Director Christine Lagarde said she and Argentina's Finance Minister Nicolas Dujovne held "discussions about how the Fund can best support Argentina in the face of renewed financial volatility and a challenging economic environment."

Lagarde said talks would continue on Wednesday, aiming to reach "a rapid conclusion to present a proposal to the IMF Executive Board."

Dujovne said it was too early to "give figures when we're in the middle of discussions with authorities."

Earlier, US President Donald Trump expressed "strong support" for Argentina, whose President Mauricio Macri has announced plans to slash the country's bureaucracy and raise taxes on exports to calm battered financial and currency markets and get the economy back on an even keel.