Between October 21 and 26, the Annual Assembly of the Fund and the World Bank will take place in Washington. Minister Luis Caputo gets ready.
Of the goals that the organization can demand of it, the Casa Rosada registers a fiscal surplus greater than the agreed one, but it would still have to add about US$2,000 million to the reserves. Now, however, you will have the opportunity to arrive with more room for negotiation
The Government managed to unify the last two reviews of the program it maintains with the IMF. Sources from the Treasury Palace confirm this. He Minister Luis Caputo is preparing to embark on a new tour to Washington. This is good news because, otherwise, the country could have fallen into default marked by a lack of reserve accumulation.
Of the goals that the organization may require, the Casa Rosada registers a fiscal surplus greater than the agreed one, but It would still have to add about US$2,000 million to the reserves. Now, however, you will have the opportunity to reach November 10 with more room for negotiation when the deadline for the tenth review becomes effective.
The IMF Assembly is coming and Kristalina knows it
The fact to keep in mind is that In the week between October 21 and 26, the Annual Assembly of the Fund and the World Bank will take place in Washington. It is an important milestone because it will be Minister Caputo’s opportunity to maintain the meetings scheduled with Kristalina Georgieva and the IMF staff. He will be accompanied by the Vice Minister of Economy José Luis Daza and the Secretary of Finance Pablo Quirno.
In this scheme of meetings, the conclave with Luis Cubeddu, who is now in charge of the Argentine case, stands out. The Venezuelan official is 58 years old, has an Argentine wife and lived in the country for a few years. In his almost 30-year career at the IMF, he dedicated himself to working on different assistance programs such as Indonesia, Greece, Mexico and Ukraine. He was also part of the team that handled the Argentine case in the transition between Mauricio Macri and Alberto Fernández.
Cubeddu is vital for Argentine aspirations: he knows that the economic team will have 30 days to shape the negotiation for the last double unified review. The Fund official is a specialist in debt restructuring and he also senses that, in the coming weeks, the Argentine government will have to decide whether to move forward with a new program with the organization or go through the next few months of 2025 without signing a new commitment. The disbursement of US$1,090 million depends on both reviews..
A slide that reaches Washington: Daza and the priority of the financial order
It is not the first time that Minister Luis Caputo travels to Washington in the second part of the year. Strictly speaking, the trips have been permanent, both for secretary Pablo Quirno and the rest of the team. In the last 15 days, the envoy was Vice Minister José Luis Dazaa great connoisseur of that city, because it was where he did his doctorate (Georgetown). Daza is an economist, he has known Luis Caputo for more than 30 years and was one of the founders of the investment fund QFR Capital Management together with Demian Reidel, the head of the council of economic advisors of President Javier Milei, and David Sekiguchi, Kristen Boyle and other investors.
Minister and vice minister think the same way. They maintain that both the financial and economic fronts are two areas that, although related, admit a different analysis in each case.. Strictly speaking, in the Argentine case, they maintain that the main crises of the last 30 years have not arisen from the economy, but from the financial system. Therefore, it is understood that the priority has been placed precisely there, leaving aside the fate of economic activity. They privilege fiscal surplus, a reduction in country risk and intervention in the exchange market over any other control tool or incentive policy.
Source: Ambito
I am an author and journalist who has worked in the entertainment industry for over a decade. I currently work as a news editor at a major news website, and my focus is on covering the latest trends in entertainment. I also write occasional pieces for other outlets, and have authored two books about the entertainment industry.
