Nothing that is being said is correct

Nothing that is being said is correct

Through a publication on his X account, the official indirectly denied the possibility of a devaluation. “Nothing that is being said about the agreement with the fund is correct. Difficult to err in everything, but they are achieving it, “said the head of the Palace of Finance, in the midst of a climate of concern of analysts for the low information about the meeting with the IMP which was carried out in recent days.

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Argentina advances in negotiations with the IMF

Argentina’s negotiation with the Monetary Fund generated expectations and Large Wall Street banks and former agency’s officials gave an agreement in the coming months With an initial disbursement of up to U $ 10,000 million and a 4 -year period, conditioned on End of stock and the exchange unification with a 30%dollar rise.

“Seems Highly probable that the parties reach an agreement on a program of extended facilities for April. We expect a significant initial disbursement and the refinancing of most of the IMF debt service until 2028, “said the Bank of Americathe second largest in the United States.

In turn, the bank highlighted the “success” of the inflationary decrease and the tax adjustment of 5% of the GDP to reach the zero deficit in 2024 through a fall in the public spending of the 30% in real terms. In the future, he estimated that the balance can be maintained thanks to the growth of GDP, which estimated at 4.5% (less than 5% waiting for the government), after a 2% recession in 2024.

On the other hand, the report indicated that the agreement with the IMF could be closed in March and approved in Congress in February. As noted, the international body will require a higher level of flexibility in the exchange market, which will result in a freer devaluation rate towards the end of the year.

The Bofa projects that the Central Bank will progressively relax capital controls, starting with those that affect production. However, the elimination of restrictions would be accelerated after mid -term elections in October, which would allow Unify the exchange rate in December.

“The Elimination of the controls will be gradual at the beginningbut we expect an exchange unification in December, when there are still stocks of pesos trapped in the market for restrictions, “says the report.

Source: Ambito

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