The Minister of Economy, Sergio Massawill maintain a full schedule in the United States starting this Tuesday in which, in addition to meeting with the head of the International Monetary Fund (IMF), Kristalina Georgievaalso plans meetings with important executives of the World Bank, the Inter-American Development Bank (IDB)and the government and treasury of the North American country.
After his arrival in Washington after having boarded a flight on Monday night, Massa meets this Tuesday with the Managing Director of Operations of the World Bank, Anna Bjerde; the president of the IDB, Ilan Goldfanj, as well as the directors of the United States Treasury Jay Shambaugh and Micahael Kaplan.
On the night of that day, he will have a dinner with US government officials.
The minister’s agenda will continue this Wednesday with a meeting with the Assistant Secretary of State for Western Hemisphere Affairs of the United States Department of State, Brian Nichols, while Massa’s meeting with Kristalina Georgieva.
The meeting with Georgieva will take place on the same day that the Board of Directors of the IMF will meet to approve the fifth and sixth revisions of the Extended Facilities Agreement (EFF) reached by the technical staff of the agency and officials of the Palace of Finance, on July 28 last.
The Fund officially confirmed that, once the review is completed, Argentina “will have access to about US$7.5 billion.”
Sources close to Massa indicated that of the total disbursements that the Fund would send if the review is approved in the next few hours, a net amount of US$3.400 million to US$3.700 million would remain, after the repayment of the funds from the bridge loan that it granted. the CAF and the swap used from China.
For November it would be expected another disbursement of 3.250 million dollars that raises the figure above 10,000 million of the US currency that is not yet confirmed.
“The proposed mix of reviews and associated disbursements is intended to support Argentina’s policy efforts and near-term balance of payments needs, including obligations to the Fund. The next review is expected to take place in November”, detailed the Fund at the closing of the technical agreement at the end of July.
The new agreement incorporated the impact of the drought and a significant relaxation of the reserve goals, since the requirements went from US$ 8,000 million of net accumulation to US$ 1,000 million for all of 2023.
From the economic team they believe that the goals will be reached by the end of the year and they highlight that, in addition to the 3.4 billion, they managed to recruit US$ 1.7 billion in recent weeks with the dollar measures for agriculture.
Source: Ambito
