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Luis Caputo confirmed that the Government will negotiate a new agreement with the IMF and will look for new money

Luis Caputo confirmed that the Government will negotiate a new agreement with the IMF and will look for new money

Report by Liliana Franco.-

The Minister of Economy, Luis Caputo, confirmed that the IMF board will analyze the latest review of Argentina this week and confirmed that negotiations are beginning on a new program that will mean more funds. “It will take a while but we have to agree with the Fund and eventually with this new program new money will arrive,” the minister said at an event organized by the Libertad y Progreso Foundation in the City of Buenos Aires.

This Thursday, as Ámbito was able to find out, the board of directors of the International Monetary Fund will meet to discuss the report sent by the staff on the 8th. revision. It is assumed that it will be approved by the Board of Directors since all the goals were met and almost immediately Argentina will receive a disbursement of approximately US$800 million.

The head of the Treasury Palace highlighted the conviction of President Javier Milei in carrying out the economic program of the national Government and emphasized that now “some want to underestimate him.”

“A President who dared to do what some want to underestimate but no one dared to do in 100 years”stated the head of the Treasury Palace.

The minister emphasized that adjusting the macroeconomic variables that included a deficit of 15 points of GDP would be “made in a neat and orderly manner.”

“Fiscal balance was reached in month one when in theory it was difficult to do so in the mandate,” the official stressed.

caputo

Reuters

IMF: the Board will meet next Thursday to analyze the eighth review of the agreement

According to information provided by Ámbito, the eighth review that the Fund will carry out will be developed and will be approved without problems.

On May 13, through a statement signed by the deputy director of the Department of the Western Hemisphere, Luis Cubeddu; and the head of the Mission for Argentina, Ashvin Ahuja of the Monetary Fund’s technical team indicated that:

“Despite the inherited economic and social situation, the firm implementation of the stabilization plan by the Argentine Government allowed the program to be firmly reestablished.”

Likewise, the deputy director highlighted at that time that it was possible to achieve “the first quarterly fiscal surplus in 16 years, the rapid fall in inflation, the change in the trend of international reserves and a strong reduction in sovereign risk.”

Caputo: “We took into account the most vulnerable”

Caputo also stated that the achievements in macroeconomic matters were achieved “taking into account the most vulnerable.”

Everything that is direct assistance, universal assistance per child, rose 335% at the same time as in this period, that is, from the end of November to today, inflation was 129%, that is, universal assistance practically doubled in real terms”he stressed.

Caputo also stressed that “The Alimentar Card rose in real terms and the 1,000-day Plan rose more than 1,000%.”

In turn, the minister added to the inheritance received “the energy debt left by the previous government.”

The head of the Treasury Palace reiterated that in May there will also be a fiscal surplus, marking five consecutive months of positive balance.

Source: Ambito

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