Within the framework of the side-by-side meeting that the president held last Thursday Alberto Fernandez and its counterpart from the United States, Joe Bidenthey met four videos that Sergio Massa I send hours before key White House officials.
According to official sources revealed to Ámbito, the files were brought by Massa himself to Juan Gonzalez, Biden’s special advisor for Latin America. “They had the objective of expressing the current situation of drought and Argentina’s potential to achieve more flexible reserve targets with the IMF,” the sources clarified.
The Minister of Economy showed the economic potential that the country has through an audiovisual compilation, in order to honor its debts with the International Monetary Fund (IMF). This way, sought to capture the importance of mining, energy and the knowledge economy in the countrybeyond the agricultural sector.
The management of the US head of state, who promised to support Argentina in the multilateral credit organizations to dampen the detrimental effect of droughtreceived the material under the term of the agreement with the IMF.
Meeting of Joe Biden and Alberto Fernández
The Argentine President stressed that the meeting “was very useful.” Furthermore, he remarked that they share a “Keynesian logic of economics.”
“It was a necessary and very useful meeting for us. We had been looking to see each other on an official visit for a long time”said the president, who recalled that in different international forums they had exchanged opinions.
In radio statements, Fernández celebrated that “the best thing this meeting has had is that it exceeds the protocol in excess.”
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“It was a work meeting where I was able to tell about the difficulties we have, the needs we have for them to accompany us in credit agencies, such as the IMF, as they have done up to here,” he said. And he added that “We need private investors to be able to better exploit the resources.”
Agreement with the IMF
As revealed by Ámbito, over the weekend, the IMF released the report on the fourth revision of the agreement, which corresponds to the last quarter of 2022 and passed all quantitative criteria. This released a disbursement of US$5.300 millionthe equivalent in Special Drawing Rights, which will mostly serve to pay immediately to the agency itself. Only some US$2,000 million will remain provisionally in the reserves.
Anyway, this year Argentina should disburse some US$3,000 million netalthough sources from the Monetary Fund, recognized to Ámbito that this is one of the issues that could be reviewed in the program modification. So far, the fact is that the reserve accumulation goal will be modifiedthis was even reflected in the official statement.
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On his tour of the United States, Massa also discussed other relevant aspects such as a greater control of the maneuvers of over-invoicing of imports and under-invoicing of exportsthe acceleration at the removal of energy subsidies for high-income households and the application of income policies, such as the program Fair prices.
With the current situation, one of the most relevant points that the Government takes away is the commitment by the White House to decisively support Argentina in multilateral credit organizations. As Ámbito learned, this would imply that disbursements of the World Bank, the Inter-American Development Bank and the Andean Development Corporation and that more than US$3,000 million enter through this route before June 30.
Videos from Argentina to the US
Among the pressing issues that were mentioned, the climate tragedy ranked high.
Apart from the arrival of foreign currency due to the measures that will be announced, for its part records as savings about US$4,000 million in energy importsdue to the impact of Nestor Kirchner pipeline and for surpluses that are estimated for this season. Every dollar counts.
Source: Ambito
