Through a statement, the IEO detailed that the evaluation “will analyze the design and application of the main elements of the exceptional access policy, which include the four exceptional access criteria (which focus on the needs of balance of payments of the country, the sustainability from his debt, their access to markets and the prospects for success of program), strengthened decision-making procedures, and ex-post evaluations.
Furthermore, the IMF office announced that “a visit to Argentina is planned”which, in principle, It will be “by the end of November”. At the same time, they pointed out that “The entire evaluation is expected to be completed by the end of 2024.”
Later, the IEO indicated that “the current work program, decided at the end of 2022, includes the evaluation of the IMF’s exceptional access policy. This policy was established in 2002 as a framework to guide the IMF’s lending decisions when exceed the normal limits of access to IMF resources”.
The evaluation will examine “the application of this policy in programs with exceptional access completed, including Stand-By with Argentina 2018″. During the government of Macri, Argentina received the highest loan in the history of the organization, which exceeded the quota that the IMF itself authorized for our country.
The office, headed by the Spanish Pablo Moreno, anticipated that “in the course of IEO evaluations, it is common practice to visit the relevant countries – in this case Argentina among others – to gather the opinions of key actors at the national level on the issues evaluated”.
Finally, it was clarified that “The IEO is independent of the IMF management and exercises its functions autonomously regarding the Executive Board of the institution. Its objectives are to foster the IMF’s learning culture, strengthen the institution’s credibility, and support the Executive Board’s responsibilities for institutional governance and oversight. “The IEO evaluates activities already completed by the IMF, not current programs.”
Massa on Macri’s loan
In an interview for LN+, Massa indicated that “at the end of the month the IMF begins the investigation into capital flight regarding the 2018 stand-by agreement” and revealed that the organization will send “a commission to Argentina that will carry out a review of the 66% that, according to the AGN (General Audit of the Nation), was not used to finance hospitals, schools nor to resolve economic stability, but to finance payments to investment funds.”
The national director of the School of the State Lawyers Corps of the Treasury Attorney General, Guido Croxatto, He stated this Monday that The International Monetary Fund (IMF) “has responsibility” for having granted the loan of US$ 54,000 million to the government of Mauricio Macri in 2018and considered that, if it does not investigate the destination of the funds, the organization “would be a participant in a network of economic crimes.”
The statements of Croxatto to Télam Radio took place after the Minister of Economy and presidential candidate of Unión por la Patria (UP), Sergio Massa, announced last night that at the end of November the IMF will begin “the investigation into the flight of capital from the 2018 loan.” taken by the Macri government, which “was not used for schools, but to finance payments to investment funds.”
About, Croxatto considered it “fundamental” that the Fund advances in this direction because, otherwise, “he would be a participant in that financial network of economic crimes that Macri’s allies committed when that debt was taken.”
Source: Ambito
