02/27/2020 - 15:40
A new mission of technicians from the International Monetary Fund will be installed next week in Buenos Aires. In principle, official sources confirmed to Clarín that Julie Kozack, the deputy director of the department of the Western Hemisphere and Luis Cubeddu, the head of the IMF mission for Argentina , will arrive in the country, the man who last year replaced Roberto Cardarelli in that Market Stall.
These IMF technicians were already between February 12 and 19 in Buenos Aires and from that visit the statement in which the Fund admitted that the situation of the Argentine debt “is not sustainable” stood out .
The definition fell well in the Government of Alberto Fernández, understanding that it was a way to endorse the discourse and the official attitude towards the bondholders, who, it is assumed, will be made an offer that implies a significant reduction with respect to the current amount of debt .
Days ago, the Argentine government announced that it will accept that the IMF review, in the framework of what is known as "Article IV" , all macroeconomic variables in Argentina, after which a statement is issued with a sort of verdict on how The Fund sees the economy of the country, making the case recommendations appropriate.
The new mission coincides with the part of the Economy schedule that states that the names of the firms that will be responsible for collecting information on who are the bonds to be renegotiated and, also, the banks that should Advise the Government in negotiations with creditors, as placement banks.