UPDATE 1-IMF team to meet in Argentina with advisers for Macri and Fernandez

The International Monetary Fund said on Friday that a team will meet with the economic advisers to Argentina's main presidential candidates to "exchange views."

The team is due to arrive in Argentina on Saturday, the IMF said in a statement, and will discuss the "recent economic and financial developments" and the government's policy plans. "We will have work meetings both Saturday and Sunday," a Treasury Ministry source confirmed to Reuters, adding that it would be the first meeting with the IMF for Argentina's new Treasury minister, who was sworn in on Tuesday.

Argentina has a $57 billion standby agreement with the IMF, negotiated in 2018 by President Mauricio Macri. Macri was trounced by opposition candidate Alberto Fernandez in the primary election on Aug. 11, who is now the front runner for the October presidential election. Fernandez has been critical of Argentina's IMF agreement and pledged to "rework" it if elected.

Fernandez's landslide support in the primary vote prompted the peso currency to fall by nearly 18% last week amid fears of a return to the interventionist economic policies of former President Cristina Fernandez de Kirchner, who is Fernandez's vice presidential candidate.

Also Read: Argentina's Macri says primary was 'bad election' for his coalition