The International Monetary Fund (IMF) expressed its concern over the insufficient control on money laundering in Argentina in a statement before the internal security commission of the Argentine Senate on May 31, 2006.
An IMF mission is in the country since May 29, 2006, headed by Ranjiv Teja, to oversee mainly the financial policy of Argentina, the state control on its economy and prices and the inflationary changes. These issues were causes of concern, especially for the long term development of the country and the reaching of sustainable economic growth.
The stability of Argentina's financial system should be enhanced with a better regulation in the country's Penal Code. The representatives of the IMF also met with financiers and bankers to discuss the ways to a more attractive local investment climate.
The mission is the first one since the country paid off all of its $9.53 bln (7.469 bln euro) debt to the fund.
