The International Monetary Fund (IMF) executive board lowered Argentina's net reserves accumulation target for the end of this year to $8 billion from $9.8 billion, the fund said on Monday. Easing this year-end goal was part of the fourth review under the country's $44 billion program, with Argentina looking to soften expectations as it faces a severe drought that is eroding farm exports crucial for reserves buildup. The country should aim to have $10.3 billion of net reserves in the central bank by end-December, as the cumulative target adds to the $2.3 billion of reserves at the end of 2021. (Reporting by Rodrigo Campos; Editing by Sarah Morland)
NEW YORK, April 3 (Reuters) -
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