The director of the IMF for the Western Hemisphere, Rodrigo Valdés, highlighted the support of the US Treasury for Argentina and its role in stabilizing the markets. He affirmed that the Fund works together with both parties to consolidate the growth and stability of the country.
“Support from the US Treasury is helping to stabilize markets and will complement the International Monetary Fund’s support program.” This was stated by the organization’s Western Hemisphere director, Rodrigo Valdesin response to a query Scopewithin the framework of a press conference offered this Friday in Washington.
Valdés referred to the currency swap between the Argentine and American governments and, in that sense, he said that “we appreciate the support of our partners, this includes the World Bank, the IDB (Inter-American Development Bank and also the United States).
In what was his last conference as head of this department (he will leave the IMF), the manager stated that “we, like (the rest of the) staff of the International Monetary Fund, have dedicated many hours and have been very involved with both Argentina and the United States Treasury throughout this process.”
And he emphasized that “We are committed to working with both parties to support stability and growth in Argentina”.
Asked about the problem of the country’s lack of accumulation of reserves (an issue on which the Fund has been insisting and the Argentine authorities have failed to comply), Valdés asserted that “We seek a consistent set of macroeconomic policies. This includes policies to reduce inflation and reserve accumulation, as many have said, but also policies that lay the foundation for solid and sustained growth in Argentina.”
In a message spread on social networks, the secretary Scott Bessentpointed out this Friday that the Treasury bought pesos in the Argentine exchange market and that it remains “in close communication with the Argentine economic team as they work to make Argentina great again.”
In what constitutes exceptional aid, Bessent pointed out that “The Treasury is monitoring all markets and we have the ability to act with flexibility and force to stabilize Argentina.”
Source: Ambito
