02/12/2020 - 7:58
- Clarín.com
- Economy
The first mission of the International Monetary Fund (IMF) since Alberto Fernández assumed the Presidency will arrive on Wednesday in the country, amidst the tension with the creditors and the same day that the Minister of Economy, Martin Guzman, will expose in Congress Your plan for negotiating external debt.
From the agency they confirmed that the visit of their representatives will be extended more than expected, since they will stay in the country, at least, until next February 19, to allow “a deeper dialogue and work” with the Government. Initially, the visit was going to be only 48 hours.
The mission will be headed by Julie Kozack , the deputy director of the Western Hemisphere department, and Luis Cubeddu , the head of the IMF mission for Argentina, the man who last year replaced Roberto Cardarelli in that position. The main objective, in addition to knowing the government's economic plan, is to renegotiate the debt of USD 44,000 million that the country maintains with that multilateral agency.
The arrival of the IMF officials will be involved in various protests, mainly from picketing and leftist organizations, who demand that the Government suspend the payment of the external debt and the negotiations.
The IMF canceled its missions to the country after the result of the August PASS, when the then president Mauricio Macri suffered a tough defeat that anticipated what would happen in the October elections, which resulted in a change of government.
The mission had been announced after the meeting Guzmán maintained with 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."
Last week, Guzmán participated in an economic seminar organized by the Vatican of which the holder of the Fund, Kristalina Georgieva, was also part. There, the minister left a clear message about the need for the international financial system to generate conditions so that the debt does not drown the economies of developing countries. Before, the official met for the first time with the head of the agency.
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 arrival of the IMF in Argentina also occurs amid the turbulence generated by the re-inflation for September of the bond that expired next Thursday, which caused a sharp fall in bonds, an increase in Country Risk and a rise in the dollar.
The Government decided to re-roll the AF20 bond or dual bond, although leaving out the individual holders, the so-called "human persons". The bonus is dual because it is nominated in dollars but paid in pesos. It expired on Thursday and you had to pay $ 96,000 million.
JPE
