At the time of the change of management from Martín Guzmán to Silvina Batakis, it was promised that a date would be given, which also could not be extended beyond August. Meanwhile, the country must order its accounts so that visitors (face-to-face or virtual) see reasonable numbers and percentages. While this event takes place, the IMF will not issue opinions or sentences (except the obvious ones, such as lowering inflation or showing macro solvency), until Sergio Massa and his people settle down. It is assumed that during that mission the goals for the second quarter will be approved without further questioning, which were actually achieved according to the vision from Buenos Aires, which also received some nod from Washington in the last days of Guzmán’s administration.
At the Fund’s headquarters, it was always believed that the missions should be as fast as possible once the period to be audited closed, given the chronic difficulties that the Creole economy shows. And that precisely the next mission will finish the controls corresponding to the first semester of the year, period in which the controls of the Extended Facilities signed on March 25 are inaugurated. And that, consequently, it was necessary to close the first stage of the missions with enough time to start carrying out the most important task since the approval of the Extended Facilities: discuss goals and objectives with a certain possibility of non-compliance, and the conditions in which that the country can manage its economy to close 2022 by approving the first year of the agreement.
Something that, obviously, the parties (including Guzmán) already considered very difficult at the end of June. Rather, almost impossible. And that could only be saved through a serious negotiation that should begin once the second mission of the year has completed its task. This promise will be kept in Washington. But not much further in time. After the time of the truces, the Fund will wait for definitions.
There is a reality that Massa will not be able to alter. During the entire mandate that Alberto Fernández has left, the person in charge of supervising the missions will continue to be Ilan Goldfajn. The managing director for the Western Hemisphere was appointed to his position in February, with the explicit mandate (accepted by him) to carefully take the Argentine case under his custody.
Source: Ambito
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