On this occasion, he will join the Argentine economic team that arrived in the United States this week to accompany efforts to consolidate bilateral relations with that country.
Expectation for the meeting with the IMF
The Economy Minister, Sergio Massa, has his expectations set on tomorrow’s meeting with the head of the International Monetary Fund (IMF), Kristalina Georgieva.
Confident but aware of the work that must be faced daily to achieve the goals set in the agreement, Massa will receive the approval of the second quarter review.
Once approved by the staff, it must go to the IMF board, which will give the final confirmation and enable the disbursement of 3,000 million dollars, of which 1,600 will return to the entity for payments that Argentina has in the file with that international organization in the that remains of the year, according to sources from the ministry. If this scenario occurs, Massa knows that the next step he must work on is the debt with the Paris Club.
The extension that Argentina obtained at the end of May establishes a period of time that expires on September 30 to reach a new agreement with said entity.
It must be the result of negotiation with Club authorities and its 16 member countries or, failing that, “until September 30, 2024”, the maximum date granted by the Extended Facilities agreement signed with the International Monetary Fund (IMF). ).
Guzmán had the intention of reaching an agreement by the end of June according to what he had discussed during his last visit to Paris, but the macroeconomic situation of the last month of his time at the Ministry led him to resign at the beginning of July and the goal CLub de Paris.
The date of September 30, 2024 is due to an agreement between both parties, knowing that the Extended Facilities agreement signed with the IMF grants that date as the maximum term.
Argentina had to disburse on May 31, 2021 a payment of some US$ 2,450 million -corresponding to 40 credits granted by 14 countries and in 8 different currencies- under the terms of the Agreement signed in 2014, which contemplated a grace period of 60 days. Almost a month after that date, Guzmán obtained an understanding to have a time bridge that would prevent him from falling into default and continue with the negotiation.
Source: Ambito
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