After the favorable signal of the IMF, Martín Guzmán met with Kristalina Georgieva

02/22/2020 - 10:33

• Clarín.com
• Politics

After the mission of the International Monetary Fund (IMF) in Buenos Aires said that the debt "is not sustainable", as expected by the Government, the Minister of Economy, Martin Guzman, met Saturday with the head of the agency, Kristalina Georgieva, in Saudi Arabia. The meeting was in the framework of the Forum of Finance Ministers of the G20 member countries.

From the Ministry that Guzmán leads, they indicated in a statement that in the meeting they deepened "mutual understanding and outlined the guidelines to be addressed in the next meetings."

During the meeting, the minister conveyed "his satisfaction for the constructive exchange on the country's challenges and the way forward to ensure more sustainable and inclusive growth," said Economy after the meeting in Riyadh, Saudi Arabia.

Very good meeting with Minister @Martin_M_Guzman at the # G20SaudiArabia. I welcomed the Argentine authorities' commitment to continue to deepen our engagement including through an Article IV & steps towards an IMF-supported program in the future. pic.twitter.com/GUTzMFRfFf

The head of the IMF emphasized the leadership of President Alberto Fernández and the measures taken to stabilize the economy and protect the most vulnerable.

Georgieva also reaffirmed his intention to see that the Argentine economy will recover in a lasting way, "that poverty be reduced and that Argentina and Argentina prosper," the statement added.

Guzmán told the managing director Argentina's intention to initiate consultations of Article IV of the agency, which the minister considered "a valuable step that will deepen mutual understanding between the Argentine government and the IMF authorities, along the way to have a new program with the agency in due course . "

The summit comes a few days after an encouraging conclusion for the Government of the IMF mission in Buenos Aires. "The IMF staff assesses that Argentina's debt is not sustainable, " said the text of the statement that the IMF technical team made about the country. "Consequently, a definitive debt operation is required that generates an appreciable contribution from private creditors, to help restore debt sustainability with a high probability."

Guzman's meeting with Georgieva in Riyadh was already planned, where the minister would continue negotiations for debt restructuring. The minister's schedule has a deadline of March 31. According to experts from the private sector, times are delayed. However, there are those who believe that it is still feasible to comply.

One of the issues to be defined is what role the IMF will assume in the negotiation that Argentina with the bondholders, an issue that could deepen in Saudi Arabia.

With information from the Télam Agency

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