The IMF gave a new sign of support for its relationship with the new national government, after its support for the measures of the Minister of Economy.
After the disbursement of US$ 960 million on the part of the Development Bank of Latin America and the Caribbean (CAF)he International Monetary Fund (IMF) once again showed support for the management of Javier Mileiwhose objective is to allocate that sum of money to pay the commitments that Argentina maintains in the short term with the international financial organization.
“The technical staff of the IMF supports CAF’s short-term support for Argentina’s balance of payments anchored in the efforts of the new authorities to restore economic stability,” published the official account of the Background on social network X, expressing support for the measure.
He CAF board unanimously approved the short-term bridge loan. “The operation will serve bridge financing so that Argentina can continue with the implementation ofl Extended Facilities Agreement agreed with the IMF for the benefit of their fiscal, monetary and exchange policiesas well as in favor of the diversification and execution of the public debt strategy,” they considered in a statement.
Finally, they expressed their link with themselves IMF: “This operation, carried out in consultation and coordination with the IMF and other multilateral bankshighlights the countercyclical role of CAFby making available in an agile and dynamic way financial solutions that allow countries to face situations of economic complexity and support the strategic management of public financeshighlighted the entity.
The IMF supported Luis Caputo’s measures: “They will contribute to stabilizing the economy”
Minutes after the measures announced by the Minister of Economy became known, Luis Caputo, that include an increase in the exchange rate to $800 per dollar, the International Monetary Fund (IMF)issued a statement in which it supported the emergency package, and stated that it “will contribute to stabilizing the economy.”
“The technical staff of the IMF supports the measures announced today by the new Minister of Economy of Argentina, Luis Caputo. These strong initial actions aim to significantly improve the Public finances in a way that protects the most vulnerable in society and strengthen the exchange rate regime. Its determined application will contribute to stabilize the economy and to lay the foundations for more sustainable growth and led by the private sector“says the statement.
And he adds: “IMF staff and the new Argentine authorities will work quickly in the period ahead. “After the serious setbacks in economic policy in recent months, this new package of measures constitutes a good basis for continuing discussions aimed at redirecting the current program supported by the Fund.”
Source: Ambito
