The program with the IMF, which is in the process of reaching a final agreement with legislative approval, will last for two and a half years.
President Alberto Fernández and Guzmán met last weekend at Quinta de Olivos to analyze the details of the technical discussions with the Fund to close the letter of intent to implement the new US$ debt program in the coming weeks. 45,000 million.
It was after the IMF spokesman, Gerry Riceassured that the organization intends to reach a “definitive agreement as quickly as possible” between both parties, which already has prior understandings on energy subsidies and external financing.
The letter of the preliminary agreement provides for a reduction in the primary fiscal deficit that will start with 2.5% this year, will drop to 1.9% in 2023 and will reach 0.9% in 2024. It was also agreed that the monetary financing is 1% of GDP this year, to then drop to 0.6% in 2023 and reduce to zero in 2024, with the aim of converging in a situation in which there is no more systematic financing from the Central Bank to the Treasury.
The financing will amount to US$44,500 and will be disbursed once the reviews of public accounts to be carried out by the IMF on a quarterly basis have been approved.
An objective of accumulation of international reserves is also proposed, with an increase goal of US$ 5,000 million for this year.
Source: Ambito
David William is a talented author who has made a name for himself in the world of writing. He is a professional author who writes on a wide range of topics, from general interest to opinion news. David is currently working as a writer at 24 hours worlds where he brings his unique perspective and in-depth research to his articles, making them both informative and engaging.
