Argentina's Treasury Minister Nicolas Dujovne speaks during a news conference after the private meeting with International Monetary Fund (IMF) Managing Director Christine Lagarde, at IMF headquarters in Washington, Wednesday, Sept. 5, 2018. (AP Photo/Jose Luis Magana)

Argentina: Only seeking financing from IMF to stem crisis

September 05, 2018 - 1:27 pm

BUENOS AIRES, Argentina (AP) — Argentina's economy minister says the government is not seeking other sources of financing outside the International Monetary Fund for help in curbing an economic crisis.

Argentina has asked the IMF for early disbursements in emergency funding from a $50 billion loan approved earlier this year.

The country has been hit by one of the world's highest inflation rates and a sharp fall in the value of the Argentine peso.

Economy Minister Nicolas Dujovne met with IMF Managing Director Christine Lagarde. He said Wednesday that they have made great progress and expect to reach a deal in late September.

He denied reports that Argentina is negotiating a credit line with the U.S. Treasury or searching for other sources of financing outside the IMF.