On Monday morning, the minister will receive senior officials from the United States Treasury, including David Lipton, who was the strong man of the Fund when Mauricio Macri contracted the multimillion-dollar loan of US$45 billion. She will also meet Michael Kaplan and Andy Baukol, two of Janet Yellen’s key international officials. The Government’s intention is for the Joe Biden administration to support possible concessions at the IMF based on the impact of the war and also to help speed up the delayed disbursements from multilateral organizations, which today are key to shore up reserves.
Around midday, Batakis will face Georgieva for the first time since his inauguration, with whom he held talks from a distance. Technical officials who follow the Argentine case will also participate. The current situation picture and the measures analyzed by the Government will go through the meeting. With two main concerns: exchange rate tensions and the new acceleration of inflation. The progress of the program will also be on the table, whose fiscal, monetary and reserve goals would have been met in the first half, but for the rest of the year it presents several questions. Especially in terms of spending cuts that would imply aligning with the guideline of 2.5% of GDP for the annual primary deficit.
Later, there will be a meeting with two World Bank executives: Axel van Trotsenburg, managing director of operations, and Jordan Schwartz, director of the organization for Argentina, Paraguay and Uruguay. One of the multilateral organizations that should speed up its committed disbursements (and foreseen in the projections agreed with the IMF) to comply with what was programmed.
Batakis’ activity will be completed today with a first contact with Wall Street investors and funds that will arrive from New York. Others would participate virtually (see separate).
On Tuesday, the head of the Palacio de Hacienda will talk with agents from the private sector. She will have breakfast with investors, she will meet with officials from the US-Argentine Chamber of Commerce (Am-Cham) and will meet with executives from Chevron, General Motors, Amazon and Google. Then, she will return to Buenos Aires.
From Washington, Batakis will closely follow the evolution of the exchange situation. The expectation of the market goes through the possibility of new official announcements. In particular, on the alternatives in dance to try to get soybean producers to start getting rid of the grains they retain (for more than US$14,000 million). For these issues, President Alberto Fernández met with Cristina Fernández de Kirchner this Saturday in Olivos and held other meetings with Batakis and the head of the Central Bank, Miguel Pesce.
Source: Ambito
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