“Relationships are severed”, they confessed off the record in the Casa Rosada and the causes are that both the president and the vice president feel mutually disappointed. In the environment of the presidential office they complain: “They voted against us for a program of the government itself” and assume that something similar will happen today in the Senate. In any case, there is consensus that the agreement with the Fund will finally be approved by parliament. In this sense, Rice reiterated that the “Board will discuss its approval once the Argentine Parliament approves it, a requirement of Argentina”, clarifying again that the IMF he never demanded that the deal be approved by Congress.
It should be noted that the IMF does not require any country that its programs be endorsed by all political forces. In any case, they do not underestimate the importance of the economic measures to be implemented being supported by the majority of their population.
In this context, private analysts maintain that the implementation of the economic program agreed with the IMF will be “very difficult to implement.”
In this sense, Rice defended the economic program prepared by the Argentine authorities, which she described as of “pragmatic and realistic”.
directory
Once the Senate approves the agreement with the IMF, the Fund’s board will hold a meeting for its approval. However, Rice could not confirm a date since it will be considered after the legislative sanction while he clarified that this “is a requirement of local legislation.” Regardless, he hinted that consideration of the show would be immediate by noting “stay tuned.”
Nor did he confirm whether a mission from the agency will come to the country, although he stressed that the dialogue is permanent. “We are very closely committed to the Argentine authorities” in conversations.
He recalled that the organization’s technical staff and the Argentine authorities agreed on a “pragmatic and realistic program to be supported by the IMF with credible economic policies to strengthen the stability of the macroeconomy and begin to face the profound challenges that Argentina faces to achieve sustained growth. ”. He specified that the objectives of this agreement are “stabilize the economy, promote growth, and protect social programs.”
Asked about the acceleration of the price index that has been registered in the country, Rice highlighted that “it is important to indicate that the program seeks to begin to reduce the persistent high inflation through measures that address multiple fronts that include the reduction of deficit financing, a new monetary policy implementation framework with positive interest rates that sustain the demand for assets in pesos.
recognized that it will be “a challenging task” at a time when rising commodity prices are impacting prices around the world. “Argentina is being affected by the war in price increases.”
In this sense, I anticipate that “the staff of the Fund is evaluating the impact of this rise in prices, but the impact will ultimately depend on the duration of the war.”
facilities
“If the IMF Executive Board were to establish a new facility with a longer repayment period for which Argentina would be eligible, IMF staff would no doubt be happy to work with the Argentine authorities to facilitate the request for support under such a potential new facility.”Rice said.
In this sense, the spokesperson referred to the establishment of the Resilience and Sustainability Trust, “a new potential facility of the IMF in which progress is being made and we hope that greater progress will be achieved by the time of the Spring Meetings (boreal)” .
Source: Ambito
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