Argentina probably come to an agreement with him International Monetary Fund (IMF) before the end of the month, analysts at Morgan Stanley on Monday, adding that any move to dollarize the economywhich goes through severe and prolonged, would need substantial preparation.
“We continue to believe that an agreement with the IMF is within reach, probably before the end of the month,” Morgan Stanley economists said in a note.
Argentina, which has a long history of debt defaults, is trying to renew its $44 billion IMF loan program after seeing its finances hit this year by a severe drought that has hit its crops.
The pending fifth review by IMF staff assesses Argentina’s performance between January and March.
The country will have mandatory primary elections – known locally as PASO – on August 13 and general elections on October 22, for which the opposition is best positioned, according to polls.
“Our focus remains on the negotiations between the authorities and the IMF, then I PASS them”, Morgan Stanley said. “After that, a whole new ballgame begins.”
Source: Reuters
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