The International Monetary Fund (IMF) warned Argentina this Thursday that the dollarization of the economy is a measure that if taken would require “important preparatory steps” and it is in no way a “substitute” for the macroeconomic policies that the country must address.
This was emphasized at a press conference by the IMF communications director, Julie Kozack, When asked about the proposal he defends Javier Milei.
IMF: what it said about Sergio Massa’s measures
Kozack also had an implicit message for another candidate, the Economy Minister Sergio Massa, who in recent weeks took multiple measures that represent an increase in public spending in full electoral campaign.
The IMF communications director assured that this organization is trying to “understand better” and “study” the impact of recently taken measures, and spoke of the possible “need” to take “compensatory” actions to try to strengthen stability and safeguard the objectives of the refinancing program.
Kozack warned that economic situation Argentina remains “very complex”with very high inflation that continues to grow, without fiscal buffers and with “fragile” social conditions.
He recalled that the Argentine authorities agreed with the Fund on a fifth and sixth review of the agreement of debt refinancing in which there was a commitment to rebuild reserves and restore fiscal order, protecting the most vulnerable.
“It is in the interest of the Fund” and from Argentina itself that both parties continue working “together and closely”, reaching the greatest possible consensus to ensure the stability and prosperity of the country,” said Kozack, who warned that it is “too early to speculate” on the demands that may be put on the table in the next review.
Source: Ambito
