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IMF Mission travels to Argentina for a new review

IMF Mission travels to Argentina for a new review

Report by Liliana Franco.-

According to sources confirmed to Ámbito, the Government will overcome the control of the world financial body without major difficultiesso it will be a routine visit within the framework of the program.

The director of the organization’s Western Hemisphere Department, Rodrigo Valdéshighlighted last week the fulfillment of economic objectives by the Government of Javier Milei: “Preliminary information suggests that the key objectives of the program (Argentine agreed with the International Monetary Fund) were achieved in March with significant margins.”

The IMF maintains that the real exchange rate must ensure the accumulation of reserves

Last week, the manager considered that The lifting of exchange controls in the country “must be carefully considered, taking into account the extent of the imbalances that the economy still has.” consulted by Ambit on whether the exchange rate is currently in balance, he maintained that calculating it is “a very difficult exercise,” but warned that “policies must be consistent and this includes the real exchange rate”.

The official began his considerations about Argentina by “recognizing that the stabilization plan of the authorities “It has generated better results than we expected.” In this regard, he noted that “we have the first fiscal surplus in more than a decade, reserves are being decisively rebuilt day after day, the Central Bank’s balance sheet is being strengthened and inflation, despite still being high, remains high.” going down faster than we anticipated.”

It is in this framework that the next visit of the IMF will take place, without the presence of the new head of the mission for Argentina, Luis Cubeddu, and headed by financial technicians.

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The IMF will analyze compliance with the goals in Argentina.

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Luis Caputo and the last meeting with Gita Gopinath to evaluate progress of the program with the IMF

Luis Caputo’s last contact with the IMF was last Thursday: the head of the portfolio held a meeting in Washington with the second of the International Monetary Fund (IMF), Gita Gopinath, in the frame of the spring meetings convened by the organization that leads Kristalina Georgieva, in conjunction with the World Bank.

In the meeting with Gopinath The goals set for the first quarter of the year were reviewed, that will allow the organization to disburse US$800 million in May.

The maximum aspiration of the Argentine contingent, in which the president of the Central Bank, Santiago Bausili, also participates, is to convince the leadership of the IMF and the United States Treasury to expand the current program so that the country can access fresh dollars.

Source: Ambito

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