Institutionally, Bárcena highlighted the importance of the law being discussed and sanctioned by the National Congress.l, since “it reflects a broad political and social support that is essential in negotiations of this magnitude” that exceed a period of government.
From the socioeconomic point of view, the Chilean economist ruled that “the new program does not include structural reforms (for example, of the pension system or labor institutions) that are usually part of the commitments that countries assume in exchange for this type of of financing”.
“The transforming efforts will be concentrated, as can be glimpsed in the agreement and in the declarations of the authorities, in solving the problems of the Argentine productive structure that historically determined a strong external restriction to the growth of the country, which usually manifests itself in recurring crises in its balance of payments”, stressed Bárcena.
For the highest authority of the agency dependent on the UN, The new agreement “raises the probability that Argentina will continue the economic recovery that has been going through the last year, after the fall suffered during the Covid-19 pandemic.”
Finally, the specialist said that the experience of Argentina represents “a milestone” for the region, because “it shows the importance of introducing changes in the international financial architecture that favor middle-income countries.”
Source: Ambito
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