The official assured that the negotiations are “very well underway” and noted that “the Fund’s times are slow.”
The Minister of Economy, Luis Caputospoke again about the negotiations he maintains with the International Monetary Fund (IMF) and assured that he foresees that the agreement with the financial entity is renewed in the first months of next year.
In this regard, he said: “We are very well on our way. The times of the Fund are slow but we are very well on the way, we have very good dialogue and I estimate that by the first quarter of next year we will reach a new agreement“Caputo said on Radio Miter.
Furthermore, he highlighted that the officials of the IMF “are amazed” with the performance of the economic plan in Argentina, “just like around the world.”
“Today, really, if you look at social networks, they don’t talk about anything other than the president Javier Milei. He was always talked about for his ideas, his forcefulness and his personality. Now the results also support it, which is really a boom. I don’t want to sound fanciful, but the president is making a revolution. The cultural battle that took place at a local level is now taking place at a global level.”, celebrated the Minister.
Luis Caputo stressed the importance of the agreement with the IMF to lift the stocks
On the other hand, he stressed that the understanding with the IMF It will be important for the lifting of the stocks, one of the Government’s economic objectives for the short term. “The agreement with the Fund should come with an injection of silver to recapitalize the Central Bank“explained the official.
In that sense, he reiterated that the Government seeks to achieve three conditions to lift the exchange restrictions: “The first is that inflation converge to the crawl level. The second is to finish balance the market of money, the demand and supply of pesos. This is extremely important because when we arrived the imbalance was total, who wanted pesos in December of last year? “There were four monetary bases in remunerated liabilities of the Central Bank.” On this point, he highlighted that since the arrival of Javier Milei’s administration to power there was an increase in the demand for pesos due to the drop in inflation and because at the same time the money supply decreased.
Finally, he added as a condition that he reach an agreement with the IMF. “If these three goals are met, we will probably be in a position to get out of the trap.”
Source: Ambito
