He Argentine government considers that the agreement reached yesterday with the International Monetary Fund (IMF)for which the multilateral organization will disburse US$ 4.7 billion for the country to face its next debt maturities, complies with “the proposed path” by the Ministry of Economy.
“For the first time in history it is not the Fund that proposes the teams or the Minister of Economy (…) Here we are the ones who have proposed the path,” said the presidential spokesperson, Manuel Adorni, in his daily press conference at the Casa Rosada (seat of Government).
The negotiating parties confirmed on Wednesday that they had reached an agreement at the level of ‘staff’ (‘staff level agreement’) that must now be approved by the IMF Executive Board, and that, after the “new goals” presented at the end of January, will allow the disbursement of almost US$ 4.7 billion (3,500 special drawing rights, SDR).
According to Adorni, the agreement reached between the Executive and the Fund is already having “the support of the markets” and has led to the growth of Argentine stocks listed abroad.
“When a country gets to work seriously, the world accompanies and the world today is seeing that Argentina “It is heading towards being a freer country,” Adorni assured.
The spokesperson asked for the collaboration of the political opposition to carry out the economic reforms proposed by the Government chaired by Javier Milei, still pending processing in the Argentine National Congress and which were praised by the managing director of the IMF, Kristalina Georgieva. .
The agreement reached by the IMF and Argentina represents the seventh review of the extended facilities program signed with the entity in March 2022 to refinance the debt contracted in 2018 during the Government of Mauricio Macri (2015-2019) for about US$ 45,000 million.
The eighth will take place in May, confirmed the Minister of Economy, Luis Caputo, in a press conference this Wednesday.
Caputo asserted that the program “does not include taking on new debt,” since, he reiterated, “The debt that is taken is only due to the fact that the country spends more than it collects.”
A team close to Milei already met with IMF representatives when he traveled to Washington on November 28, after his election as president, but it was during the transition period and the leader of La Libertad Avanza did not participate in that meeting.
On this occasion, it has not emerged that the president participated in the round of negotiations.
Source: Gestion
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