IMF chief backs regional director after Argentina tensions By Reuters

(Reuters) – The head of the International Monetary Fund offered her support to a regional director on Friday, a day after the director, Rodrigo Valdes, announced he would withdraw from negotiations with Argentina.

“I have full confidence in Rodrigo Valdes, who will lead the work of the IMF’s Western Hemisphere Department,” IMF Managing Director Kristalina Georgieva said in a statement.

“He is an outstanding economist, a dedicated international public servant and a wonderful colleague. I trust Rodrigo’s judgment on all matters, including the decision to delegate the Fund’s program negotiations with Argentina to his deputy, Luis Cubeddu.”