Meanwhile, what would be recommended is an endorsement of the Extended Facilities sequence and a “go ahead” at least momentarily. However, that position in Washington will have to be helped with numbers and percentages appropriate to what was agreed for the first six months of the year. This will be Rubinstein’s homework for this week. The Planning Secretary, who will complete his first seven days in office today, will thus negotiate face to face with Goldfajn; with whom forward he will have a direct relationship. Almost personal. Rubinstein will have to work hard on his diplomatic arts. It is known that the official of the international organization is not in a very good mood with Argentina. And that this will be reflected in his vision of the contents of the negotiation with the country.
Especially taking into account that for almost two months Julie Kozack, the person with the most permeable and flexible vision of the IMF on the Argentine accounts, due to irreconcilable differences of opinion with Goldfajn, no longer works on the Creole case and now attends to country issues Europeans. What emerged from this outing is little humor and a desire to understand the always complex vicissitudes of politics and local economic management. In fact, and as Goldfajn himself publicly explained, his intention is not specifically to be as empathic as possible with the country, but rather to fulfill the mandate given to him in March by the Fund’s board of being a relentless inspector of Extended Facilities and its strict compliance.
The board of the International Monetary Fund gave him this order on March 25, in the complicated session in which the highest level of the organization managed by Kristalina Georgieva unanimously approved the agreement with Argentina. But where two specific countries, Germany and Japan, were very harsh in their references to the reality of the local economy, and demanded maximum tension and analysis from the IMF technicians for the fulfillment of the goals set in the agreement. It was the board that ruled, in addition, that there be an advancement of the inspection missions, starting in May and adding one more trip to the 10 originally scheduled.
That day, the Fund spoke of “exceptionally high risks”, a euphemism to say that it is considered very difficult for the country to comply with. Given the panorama, the financial institution gave the managing director the specific mission of executing the application of the “ Article IV” of the organization before Argentina, which implies being the main responsible for controlling that the goals of the Extended Facilities agreement are met.
Now, without Kozack, he will be personally in charge of organizing the missions to Buenos Aires. And although it is not written, the Brazilian-Israeli will have to show a strong hand, following the mandate of the board, where the spirits with Argentina are not at their best. The directory took as a direct advance on the IMF, the criticisms that were made in March from Buenos Aires towards the organization, which was related to the last military dictatorship.
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.
