“It is a reasonable request. They have earned it, given their performance,” The Bulgarian economist, who recognized Argentina’s efforts to finally address the long -awaited economic reforms affirmed to the International Agency Reuters. Also, the main directive of the multilateral credit agency said they hope close the new agreement before the next spring meetings of the agency and the World Bank between April 21 and 26.
The declaration of Giorgieva He comes to support the request made by the Minister of Economy, Luis Caputo, to the underlying authorities to be considered a first “important” disbursement of the credit they are negotiating.
During a television interview with LN+ broadcast last night, the head of the Palacio de HaciendA confirmed the negotiations and advanced that The first section of the loan “will be very important”. In addition, he anticipated that the credit will be “Free availability”.
The minister acknowledged that “there is no precedent in which the IMP Make a very high disbursement “since” they generally make 20% and with some exception of 40%. “ “We have asked for more for a reason. In a traditional agreement, what the fund does is to do those partial disbursements in exchange for the fulfillment of partial goals, which we already did. We already did everything”said.
For Caputo, It may “not have precedent” of an advance of the magnitude that Argentina expects to receive in a first section “but there is also no precedent of a country that has made more adjustment than the fund asks for. It would be more logical that since we made all these adjustments, the initial disbursement is higher“
Also insisted that It will not be “new debt” but the repurchar will be used INTRANSFERIBLE LETTERS who are in the hands of BCRA
The IMF confirmed that negotiations for credit advance
Last week, the background spokeswoman, Julie Kozack, He communicated that the Conversations with Argentina “continue” And, without going into detail, he confirmed “that The final package (assistance) package will be determined by our executive directory and that the conversations focus on a considerable financing package. ”
Within the framework of a press conference held on Thursday in Washington, the spokeswoman praised the program carried out by the Government, which she described as “A really impressive stabilization program”, And stressed that inflation has fallen thanks to a great fiscal consolidation and the sanitation of the balance sheet of the BCRA
Regarding disbursements, Kozack He said that “as in all programs, they will come in sections throughout the life of the program. But the exact phases and the size of each section is also part of the conversations that are being maintained.”
Source: Ambito
