The Secretary of Economic Programming, gabriel rubinsteinand the head of Advisors of the Ministry of Economy, Leonardo Madcur, lead the meetings with the representatives of the multilateral credit organization since the beginning of this week.
Sand the goals are approved for him directory of the IMF, Argentina will be able to receive a new disbursementin this case of some US$5.400 million.
One of the points that are part of the review involves the goal of fiscal deficitwhich the Government announced at the beginning of January that it managed to exceed, since it registered a red of 2.4% of GDP in 2022, below the 2.5% provided for in the agreement.
As of December, the National Public Sector registered a primary deficit of $502,128.2 million; Consequently, between January and December an accumulated primary deficit of $1,955,140.8 millionrecently reported the Palace of Finance.
For 2023, the primary deficit target is 1.9%.
Economy also anticipated that other goals were met, such as the reduction of monetary assistance from the Central Bank to the Treasurywhich came to 1% of GDP -from 3.7% in 2021- and added US$5.8 billion to reserves net income from the Central Bank during the past year.
The agreement signed in March 2022 allows the country to refinance a loan of US$45,000 million which was granted in 2018, during the Government of Mauricio Macri.
The previous revision of the agreement was carried out in September last year and, after that step, the IMF’s deputy managing director, Gita Gopinath, highlighted that in Argentina “the continuous decisive political actions are beginning to bear fruit. In a more challenging external and internal context, the determined implementation of policies, including the tightening of fiscal and monetary policies, is leading to a reduction in inflation, as well as improvements in the trade balance and reserve coverage.
Source: Ambito
