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BRICS leaders share "positive outlook" on Argentina: President Macri

BRICS leaders share "positive outlook" on Argentina: President Macri

Leaders from the BRICS bloc of emerging economies share a "positive outlook" on Argentina's embattled economy, President Mauricio Macri said on Monday.

Macri said that leaders from BRICS members -- Brazil, Russia, India, China and South Africa -- meeting in Johannesburg for the July 25-27 summit also expressed their support for the Argentine government's economic strategy.

The BRICS countries "have a positive outlook of our future," said Macri, who attended the Johannesburg summit as the current president of the G20, which will gather in the South American country later this year.

Argentina is grappling with high inflation, devaluation and other economic woes as Macri's administration implements economic reforms.

Accumulated inflation hit 16 percent in the first half of the year, with a monthly high of 3.7 percent in June, according to the latest government figures.

The country's economy worsened in May and June, as the peso tumbled against the U.S. dollar, which prompted the government to turn to the International Monetary Fund (IMF).

"There are no magical solutions," Macri said, referring to a series of unpopular measures his government has taken, including securing a 50-billion-U.S.-dollar loan from the IMF. es un sitio web oficial del Gobierno Argentino