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The IMF mission in Buenos Aires will be extended more than expected

2020-02-10T21:28:18.573Z


The technical team that arrives on Wednesday will stay a week and not two days as they had anticipated. It is for a "dialogue and deeper work" with the Government.


Paula Lugones

02/10/2020 - 18:10

  • Clarín.com
  • Economy

The mission of the International Monetary Fund that will arrive on Wednesday in Argentina will be extended several days more than expected, until 19, to allow "a deeper dialogue and work" with the Government, Washington was reported Monday.

A Fund source reported that a technical team of the agency will visit Buenos Aires from February 12 to 19, a week in total, instead of the two days that were initially reported. It will be the first trip of this mission since August, when visits were suspended after the result of the PASO and the turbulence that followed and the subsequent freezing of the standby program of 57,000 million dollars.

The mission that will arrive on Wednesday will be headed by Julie Kozack, the deputy director of the department of the Western Hemisphere and Luis Cubeddu, the head of the IMF mission for Argentina, the man who last year replaced Roberto Cardarelli in that position.

According to the spokesperson, the delegation will arrive in Argentina to "continue the ongoing dialogue on the Government's economic program and economic prospects for the country." As they point out, the mission will also be an opportunity to " learn more about the authorities' strategy to address the Argentine debt situation."

In addition, they emphasize that the stay in Buenos Aires until February 19 (instead of the 14, as previously announced) will allow “a dialogue and a deeper work on these issues”.

The spokesperson also said that during their stay the team members will meet with officials of the Ministry of Economy, the Central Bank and other government economic institutions.

The mission had been announced following the meeting of Economy Minister Martín Guzmán, Cubeddu and Kozack on January 27 in New York, the first formal contact between the Argentine official and those of the Fund. Spokesman Gerry Rice said the goal of that mission was "to continue exchanging views on macroeconomic plans and debt sustainability."

The details were finalized during the meeting held by the owner of the Fund, Kristalina Georgieva, with Minister Guzman at a seminar in the Vatican, on February 5.

Since assuming the government of Alberto Fernández, the Fund has been demanding to know details of the economic plan to evaluate the eventual sustainability of a debt renegotiation proposal with the agency. So far they see "positive" signs of "stabilization", with the economic measures that the Government took to assume, but still await the general plan.

The director of the Western Hemisphere Fund, Alejandro Werner, said that the mission would focus on helping the authorities “build the macroeconomic framework, understand what public policies will be implemented to improve income distribution and reactivation of productive activity ”.


Source: clarin

All business articles on 2020-02-10

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