The figure of 4% for the rebound in activity is also reflected in the Extended Facilities program that Argentina signed with the Fund, whose first review is scheduled for May 10. The official expectation is that it will be overcome without problems: “In the first quarter we met the goals at the fiscal, monetary and reserve accumulation levels. Goals that beyond being in the program are those that were drawn up for the government’s economic plan”, they synthesized from the Ministry of Economy to Ámbito.
Looking ahead to the meeting that Guzmán will hold on Friday with the managing director of the International Monetary Fund, Kristalina Georgieva, Profound changes in the agreed goals are not expected. “The economic policy that has been implemented is in line with what had been planned, that contributes to stability and to guaranteeing continuity in the economic recovery,” they maintain in the environment of the Minister.
With this scenario, the sources consulted by Ambit recognize that as a result of the international context “in the future there may be contingencies, the macroeconomic framework is always being reviewed: economic activity, inflation and other variables, but everything planned for the first quarter has been fulfilled”. They also highlight that the measures to strengthen income can be financed by the growth of collection. In this sense, they point out that the fiscal deficit for the first quarter was only 0.25% of GDP.
As this medium anticipated, the minister’s agenda in Washington will include bilateral meetings. He is scheduled to have a series of meetings with representatives of the economic areas of the governments of Germany, Indonesia, Spain, Italy and South Africa. He will also talk with World Bank officials.
The spring meeting of the International Monetary Fund takes place days after the organization itself confirmed the creation of a new Resilience Fund to strengthen the financial situation of low- and middle-income countries. The data is not minor, since Guzmán was one of the promoters of the initiative. Some US$45 billion would be channeled through this instrument, of which US$1.3 billion could reach the country.
The expectation is that the tool will also give way to the creation of a new line of credit. This would include longer terms and a longer grace period, which would allow Argentina to refinance part of the debt it holds with the agency for more than US$45 billion with greater ease.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
