00:00So, the executive board completed the eighth review of Argentina's program on June 8th.
00:06Total disbursements under the EFF reached 41.4 billion U.S. dollars.
00:15The authorities are now exploring the option of moving to a new fund arrangement.
00:23I can also say that the Argentine authorities have continued to implement their economic
00:30stabilization program, and the program is delivering impressive results.
00:35These key results include a sizable reduction in inflation, in fiscal surpluses, and improved
00:43reserve coverage.
00:44There are also nascent signs of a recovery in both economic activity and also real wages.
00:53IMF staff continue to work closely with the authorities and stand ready to support Argentina
00:59and its people in entrenching the recent gains and addressing the remaining challenges.
01:11On the question on the exchange restrictions, what I can say is that the stabilization
01:22program has yielded better than anticipated results to date, and to sustain the durability
01:33of these impressive results in terms of stability and growth, it does, of course, remain critical
01:40to continue to adopt a consistent set of policies, including on fiscal, monetary, and foreign
01:48exchange areas.
01:49And of course, our team and the authorities are engaging very closely on these issues
01:56as they continue this very constructive dialogue.
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