IMF will continue to support Argentina through the "challenging times"

Acting International Monetary Fund chief David Lipton said the Fund will "help them respond to the difficult situation and the challenging times ahead," but he did not specify when the next injection of funds would be released. Lipton said "recent measures by the authorities have helped calm the markets."

Lipton said he had "a constructive meeting" with President Mauricio Macri, Finance Minister Hernan Lacunza and Central Bank Governor Guido Sandleris in New York on the sidelines of the United Nations General Assembly. "Our dialogue and close collaboration with the Argentine authorities will continue with technical meetings expected to take place later this week and before the IMF annual meetings" in October, Lipton said.

To calm market turbulence, the government in late August asked the IMF to restructure its repayments. Lacunza, who has been in his post just over a month, also announced initiatives to postpone debt payments to institutional investors, relieving the pressure on international reserves so they can be used to stabilize the currency which spiraled lower in the wake of the election.

Christine Lagarde, the former managing director of the IMF and who will soon be head of the European Central Bank, defended the decision of the International Monetary Fund to grant Argentina a record line of credit last year, even after the us$ 56 billion program failed to stabilize the problematic economy of the nation. Speaking to the press, she said "We did the best we could at the time when the Argentine leaders faced us with a very difficult situation."