The director of the International Monetary Fund, Kristalina Georgieva, assured that the organization is working together with the United States, the World Bank and the IDB to define an assistance package. He highlighted the reforms of the Government of Javier Milei and stated that “the priority is to accumulate reserves.”
The managing director of International Monetary Fund (IMF), Kristalina Georgievastated that he expects definitions “shortly” on the new international assistance package destined for Argentina. The official explained that the organization works together with United States, the World Bank and the Inter-American Development Bank in the design of a coordinated financial aid scheme.
Among the alternatives under analysis is the possibility that The United States transfers part of its Special Drawing Rights (SDR) -the IMF reserve assets- to the country, a mechanism similar to the one Washington implemented with Qatar in 2023Georgieva said in statements to Reuters.
In parallel, the US Treasury Secretary Scott Bessenthad clarified days ago that his country “is not putting money in Argentina,” but rather what it offers is a financial swap. That nuance generated criticism within the Republican Party, which questions the decision to collaborate with Buenos Aires after recent sales of soybeans from Argentina to China for billions of dollars.
Support for Javier Milei’s program
Asked about the link with the Argentine Government, Georgieva highlighted that the IMF maintains a long-standing relationship with the country, although she highlighted a change in approach with the current administration. “We have worked with Argentina for a long, long timebut the president’s government Javier Milei has taken decisive measures to implement reforms, reduce inflation and create a more favorable regulatory environment for the private sector,” he stated.
The Bulgarian economist also maintained that the immediate challenge for the libertarian administration lies in rebuild the level of international reserves. “When the country can meet debt service obligations and domestic pressures with a solid reserve position, then it can continue to implement its programs and keep the Argentine population engaged,” he said.
With a hopeful tone, Georgieva left open the possibility that the link with the organization will enter a new stage. “This is not the first programbut if I put on my optimist hat, Maybe you can say that it could be the last IMF program with Argentina”, he expressed.
And he concluded with a phrase of personal tone: “My dream is for Argentina to stand on its own. It has all the ingredients to thrive. What he lacked was in the political sphere.”
Source: Ambito
