The Minister of Economy, Luis Caputo, held the agreement between the Argentina and the technical team of International Monetary Fund On the first review of public accounts and assured that it will help the country to recover access to markets to refinance the maturities. In addition, he pointed against the opposition by stating that the debt “It is the deficit, and the deficit was generated by Kirchnerism.”
The economist said that the understanding between the country and the fund is “An excellent agreement” and even dared to ensure that it is “Better than what we had signed before” given that “It will help significantly” that Argentina can have access to capital markets “to at least refinance their debt”, which he considered as “A key point” For the economic program.
Given the consultation on what are the specific aspects in which the program improves regarding its predecessor, it avoided deepening because it must still be evaluated by the Board of Directors. “As you have to go to Board’s approval, it does not correspond to details,” he shielded.
Luis Caputo on the treatment of the agreement in the IMF board: “It will be for the end of July”
Despite having green light from Technical Staff, Caputo He clarified that it must now be analyzed and, eventually, approved by the Board of Directors to unlock access to around US $ 2,000 million. “It will be for the end of July,” he saidso it could be completed next week.
According to private evaluations, Argentina complied with almost all program goals. Particularly, the commitment to Fiscal surplus. On the other hand, it is understood that the country did not achieve the objective of accumulation of reservations, theme by which the Background would give a forgiveness (Waiver).
“There is much talk about the accumulation of reservations and this is a program that has only bought reservations”Caputo said tonight in the program “The three anchors” of the Straming fuck and said the government bought US $25,000 million in the first 18 months. “This is a program that buys reservations, but if one does not have access to the market to refinance capital, then those reserves are in debt payments,” he explained.
Luis Caputo referred to the possible rate he could recover access to the market
“The market will take it well and you will like it”reiterated on the report of the IMP And he assured that he will allow access to foreign capitals “sooner rather than later”.
As for the eventual rate that Argentina could take debt, Caputo predicted that he would be around the 8.75% If the scenarios provided by economists on three international rate cuts before the end of the year and two more in the first quarter of 2026 are specified. “Today’s is an important step because the country needs to return to markets to make debt rollover,” he reaffirmed.
The minister highlighted the work together with the Background and thanked the Kristalina Georgieva team. “Of course, we can discuss, we can fight, but always from a constructive side and to improve the situation of the country”he said.
Source: Ambito
