The current EFF establishes that the IMF The money is transferred to Argentina to pay the due dates of the stand by, generating new payment terms, that is, the stand by was not cancelled, it continues its course and is repaid with the periodic disbursements. The last one was completed at the end of December and was for US$6,000 million, which served to meet the goal of accumulating reserves and is now used for the obligations of the first quarter of the year.
The situation of the agreement with the IMF
The next review will begin in the coming days and will audit the accounts as of December 31, 2022, whose general guidelines would be met. Although the relationship with IMF is oiled, there are two points in which there are counterpoints:
- On the one hand, there is the agency’s refusal to review the issue of the surcharge that the country pays for having borrowed above its quota.
- and the second critical point is the discussion about “the cost of the war, since Argentina argues that the war cost the country an additional US$5.3 billion, but for the IMF it was US$3.2 billion.
The Minister of Economy, Sergio Massaassures that it is not the intention of Argentina to modify the current agreement, but to find mechanisms to contemplate the situation.
He intends to find alternative ways of financing for a year that looks very tough given the drop in income from the harvest as a result of the drought. This year the deficit should be reduced to 1.9%.
Source: Ambito
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