“We consider that the announced measures today by the Argentine authorities are positive to strengthen reserves and consolidate the path of fiscal order, fundamental variables to strengthen economic stability,” he told Ambit a spokesperson for the International Monetary Fund.
To this communication is added the one that was known, via social networks, last Sunday when the Fund indicated that: “The teams from the Ministry of Economy and Central Bank of Argentina and the IMF Staff have completed the core aspects of the technical work of the next review.”
The statement also notes that “The central objectives and parameters have been agreed that will be the basis for a Staff Level Agreement (technical agreement) that is expected to be finalized in the next few days to then move towards the revision of the Argentina program”.
With the foundations for the reformulation established, the final letter of the technical agreement would be completed in the next few days virtually between Washington and Buenos Aires. It is expected that the understanding can be known by Wednesday or Thursday of this week, according to sources close to the negotiation.
This weekend a package of measures aimed at strengthening the external sector and consolidating the fiscal situation was announced. Among the measures, a Differential dollar for regional economies and corn of 340 pesos.
Also, it was established COUNTRY tax to imports referring to luxury services and products, but products destined for the basic food basket and energy-related sectors will be exempted from this exchange rate. Also, those who export and also import, if they pay for their imports with exports, they will not pay VAT or Country tax.
“The objective of these measures is to strengthen reserves and improve tax collection,” I explain to this newspaper a high source of the Palacio de Hacienda.
The Minister of Economy, Sergio Massa in La Rural clarified that You do not plan to travel to the United States and explained the reasons: “The staff level agreement is already underway, it does not require me to travel for it to be underway. The base document, the term sheet is called, which is the one that defines the operation and implementation of the Staff Level Agreement, is already underway, it was already closed on Saturday, with which there are now internal procedures that are typical of the IMF, in the opinion of its legal, finance, and capital market departments”.
Massa explained that the organism “It has a schedule, but I suppose that by Thursday, at the latest, they will be raising the Staff Level Agreement to public knowledge. From there, let’s say, they submit what is called the Staff Report to the board, to the Board, and somehow with the Board’s approval comes the entire disbursement program for the second semester for Argentina.”
Source: Ambito
