The head of the IMF highlighted that during the meeting she congratulated Massa on his appointment and for the “strong steps” of his economic team to “stabilize the markets and reverse a scenario of high volatility.” Meanwhile, she revealed that the Argentine official promised to “mobilize external support, accentuate efforts to stabilize the economy and guarantee sustainable growth with inclusion, under the principles of fiscal order and the strengthening of reserves.”
“I welcomed your strong commitment and drive to achieve the program goals – which will remain unchanged – and the conclusive progress made in critical areas,” continued Georgieva, promptly highlighting the commitments of a primary deficit of 2.5% of GDP in 2022 and of 1.9% of GDP in 2023“with emphasis on a better targeting of subsidies for energy, transportation and water.”
He also pointed out the monetary policy with positive real interest rates; an accumulation of reserves, driven by the general framework of policies and specific measures; and a greater focus on “reviewing corporate tax incentives and combating tax evasion and money laundering.”
Finally, he anticipated that the teams from both parties will continue to meet virtually this week with the aim of “concluding staff-level agreement in the coming days.”
Source: Ambito
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