During the talk, it was assured that in the understanding with the government In Argentina, the IMF put aside the demands for labor, tax or pension reform, but it was debated energy subsidy policy.
One of the central axes in the agreement is the next expiration. On February 22, the amount amounts to US$2.8 billion and today there are US$1.6 billion. Therefore, those payment dollars are not in the BCRA today and it is likely that they will not be in seven weeks either, because the strongest currency settlements start later. This situation would have accelerated the understanding with the IMF.
The Fund also assured that Minister Martín Guzmán does not want an exchange jump. Although the political decision not to make an exchange rate jump is in place, it is likely that the BCRA will have to recalculate and calibrate more closely the speed at which it intends to calculate the sliding of the peso to strengthen its position in dollars in order to meet the agreed goals. .
“They repeated to us several times that they were negotiating an achievable program, who want to avoid the default of Argentina and that is why they are more permissive. That was made clear to us. They know that this agreement is not going to solve the country’s problems”, indicated one of the analysts.
On the other hand, another economist, in dialogue with La Nación, assured: “They said that the program has to be approved in Congress because it must meet with the law promoted by Guzmán that any agreement with the Fund must go through the Legislative Power. Once that is in place, IMF board approval is a formality, they told us.”
Source: Ambito
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