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Washington: Massa meets with the number two of the International Monetary Fund in a key week


Before seeing Biden at the White House, he will meet with Gita Gopinath because Georgieva is away. The organization's board of directors analyzes the easing of a goal of the program.

Economy Minister Sergio Massa is getting ready together with the delegation of Argentine officials in Washington for the appointment this Wednesday at the White House, where President Joe Biden will receive Alberto Fernández.

But, beyond that key meeting, the Tigrense has

his own agenda

in this city in a critical week for Argentina.

Massa was able to enjoy some of the scenery of the cherry blossoms this week in the city only at the end of the afternoon, at a coffee table on the sidewalk of the Willard hotel, where the Argentine entourage is staying.

Surrounded by his collaborators, the minister answers calls from Buenos Aries, monitors the movements of the dollar.

He spent the whole day doing the classic tour of power –especially the economic one-- in Washington, with

meetings at the Treasury, the IDB, the World Bank and the Immigration and Control Service (Homeland Security) with different objectives.

But he seeks to focus on tomorrow because two key meetings await him this Wednesday

: the first in the morning with the number two of the International Monetary Fund, Gita Gopinath

, (Kristalina Georgieva is in Asia) and

the other in the afternoon with Janet Yellen,

the secretary of the United States Treasury, which will integrate with Massa the extended meeting of Biden and Fernández, where the ministers of both countries will participate.

These meetings take place when

the executive board of the organization is analyzing the approval of the fourth revision of the program

with Argentina, in which a relaxation of the reserve goal is proposed because the Government cannot comply, due to the follow-up and other variables.

It is estimated that the board will approve the change in objective at a meeting –possibly this Friday–, but the numbers could get even worse for the following quarter, and even

more flexibility from the Fund could be required.

That is why the role of the United States is key,

since due to the size of its economy it is the country that has the most weight in any vote of the board on the subject.

Gopinath will be discussed with Gopinath this Wednesday about all of this – above all about the future steps.

And it is also possible that the issue is present in the meeting with Biden and Yellen, although from Economy they prefer not to centralize the debate on that.

"In the White House we do not want to talk about problems, we seek to present Argentina's opportunities,"

they say from the delegation.

And they refer to the potential of our country as a "

strategic partner" of the US 

in matters of global food security and energy, due to its lithium and shale reserves.

Massa was early in the Treasury where he did not see Yellen, whom –according to the Economy they say- he will see today in the White House in a more formal setting.

He then went to the IDB to meet with President

Ilan Goldfajn,

the Brazilian who won the last elections with the support of Lula, Biden and Alberto Fernández, among others.

With him he reviewed the issue of disbursements that the bank must make in the next semester.

Eager for funds,

Massa seeks to scratch the bottom of the pot in all international organizations

because the loans – even if they are for public works – come in as dollars and are executed in pesos.

Every dollar counts when it comes to accumulating reserves and meeting program goals.

That's why he talked about accelerating loans with the World Bank as well, on calls from Washington with President

David Malpass and Axel von Trotsenburg,

managing director of operations.

The minister was also at the offices of

Homeland Security

together with the director of Customs, Guillermo Michel to speed up the exchange of customs information with the United States, through the Trade and Transparency Unit. They are also negotiating to have

a Customs delegate in Miami

to analyze the information provided by the US more immediately.

Massa will leave Thursday morning for Miami, where he will give a conference and then continue to Buenos Aires.

Source: clarin

All business articles on 2023-03-29

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