The Minister of Economy, Sergio Massa, will return from the United States with an open talk with the Monetary Fund to set new goals and disbursements to the Extended Facilities Agreement in force that will take place in the next two weeks.
The Minister of Economy, Sergio Massawill return to the country from the United States with funds for US$2,000 million and negotiations with the International Monetary Fund (IMF) underway to set new goals and disbursements to the Extended Facilities Agreement in force that will take place in the next two weeks .
According to sources from the Palacio de Hacienda, During his trip to the IMF and World Bank Spring Assembly this weekend, Massa raised $900 million from the Inter-American Development Bank (IDB), $600 million from the World Bank and $500 million from the Arab Fund for investments in infrastructure.
massa’s journey
Economy officials noted that it is about money that is going to be disbursed all during this year and that they obtained collateral guarantee operations from multilateral organizations for another 1.2 billion dollars to issue debt.
But beyond the fresh funds obtained, in the Ministry of Economy it is considered an important achievement to have opened a negotiation with the organization led by Kristalina Georgieva to weigh the effect of the overwhelming drought that devastated Argentina in this year’s goals , which he says has the full endorsement of the United States Department of State.
“Due to the drought, we achieved the rebalancing of the Program with the fund. And the axis with which we speak is to build a `bridge of confidence`. It is a triumph to put the drought on the IMF agenda”said an official from the Palace of Finance, who specified that “now there are two weeks of negotiations.”
The idea that was reflected in the conversations held by the Minister of Economy in Washington is to create a bridge between multilateral organizations so that Argentina can go through the effects of the drought, taking into account the importance of the country in terms of security. food, energy and potential development in the Knowledge Economy.
The negotiations that will take place in the next two weeks will not only include a new target for international reserves, fiscal deficit, and monetary issue for 2023.
The Argentine government also intends to modify the IMF disbursement schedule, which this year has a negative flow for Argentina of more than 2,000 million dollars.
Source: Ambito
