The Government will comply with part of the payment that must be made to the International Monetary Fund (IMF) in the midst of negotiations for the organization to advance new disbursements to the country.
The Government negotiates for these hours with the International Monetary Fund (IMF) the advance of disbursements planned for this year and would seek to close that process before the end of the month. But, in the midst of these talks, Argentina must face the expiration of US$2.700 million and, as he could confirm Ambitin the next few hours, will settle US$1.9 billion of that amount.
This occurs in a context in which talks are open and when a group of technicians has traveled to the United States to advance in this regard. The truth is that, as Emilia Val, a member of the Center for Social Studies of the Economy (CESE) at the University of San Martín (UNSAM), points out to this outlet, the Fund, “so far, has been flexible with Argentina and seems willing to continue negotiating to avoid disruption before the end of the Frente de Todos mandate.”
And consider that this is in line with the fact that the credibility and reputation of the organization is linked to the fate of its main debtorwhose situation of economic fragility and political uncertainty can play in favor of the Government in the negotiations.
The foreign debt expert highlights that the Government, for its part, even with internal conflicts around the issue, “has managed to show waist in negotiations with the IMF authorities and Massa has incessantly sought alternatives and expansion of international financing sources to shore up reserves.
Why pay?
Claudio Loser, economist and former director of the IMF for the Western Hemisphere, agrees with Val’s vision and points out that a “very soft program by observers” to this administration, but rules out that this decision has electoral objectives. And the decision to move forward with this new payment is in line with the search to give a sign of firm commitment to compliance with the program.
And it is that, Loser explains that “Exiting the program agreed with the IMF, in which approximately US$15,000 million remain to be drawn, would imply that the next maturities of this year and the next must be paidinstead of being transformed into a debt up to 10 years of maturity, and with 3 and a half years of grace, a period in which the country can stabilize its financial economic situation, although paying interest”.
Everything indicates that the Fund seems willing to continue negotiating to avoid a disruption before the end of the current government administration and, from now on, we will have to analyze how the officials and authorities of the organization will face the next negotiations in a complex political and economic scenario. .
Source: Ambito
