In this sense, the official recalled that “Minister Guzmán recently pointed out the authorities’ view that the program with the IMF is an anchor and that the objectives remain unchanged”. Implying that the economic team is not considering modifying the goals.
From Rice’s words it can be deduced that some programs are being modified but without this meaning, for example, that more fiscal deficit will be authorized than agreed. Exactly when I say: “Although we are looking at prioritizing policies, the objectives and goals of the program remain unchanged” to reiterate that “The authorities are committed to implementing the program and ensuring that the objectives are achieved.”
At the local level, different analysts raised their doubts about the possibilities of fulfilling the different goals established in the program. On the one hand, and as Ámbito anticipated, it is estimated that the primary deficit last April would have been about 200,000 million pesoscasting doubt on the possibility of meeting this objective (for the entire second quarter the imbalance should not exceed 344,000 million pesos).
Analysts also raise questions regarding the goal of accumulation of reserves held by the Central Bank. From the beginning of the year to the middle of May, the BCRA accumulated some 650 million dollars, when last year in the same period it would have bought some 5,000 million, despite the greater liquidation of agriculture.
The manager recalled that, after the spring meeting of the Fund held weeks ago, in which the Minister of Economy, Martín Guzmán, participated, the talks continued virtually between the technicians of both parties.
Although Rice did not specify when the result of the first evaluation of the program would be available, corresponding to the quarter from January to March last, pointed out that it would be “soon” and remarked that “good progress” has been made.
In particular, he maintained that the effects of the Russian invasion of Ukraine on the Argentine economy are being analyzed in the talks, since the country, like many others, has been affected by the war.
The talks are oriented so that the goals and objectives of the program can be achieved, Rice affirmed before the consultation of different media, including Ámbito.
Asked about the problems presented by the local economy, such as high inflation, the spokesman made it clear that “the goals and objectives remain unchanged” and said that the national authorities are “committed” to ensuring that these achievements are achieved.
Source: Ambito
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