The minister said that Additional flows of the World Bank, the IDB and the CAF that would lead the reserves to about US $ 50,000 million will be sought.
Caputo made the announcement at the opening of the XXIII Annual Conference on Insurance Regulation and Supervision in Latin America held in the Stock Exchange in an attempt to appease the nervousness of the financial market.
The head of the Treasury Palace revealed that on Wednesday he had a conversation with the IMF managing director, Kristalina Georgievain which he agreed to publicize the amount that is negotiated.
The decision was made because several bureaucratic steps that can demand “several weeks.”
“Adding IDB, BM and CAF we will be around US $ 50,000 million of gross reserves. The monetary base is US $25,000 billion to the official dollar and the free change is US $20,000. Then, we will have more than twice as a reservations than monetary base, ”said the minister to account for the strength of the program that is negotiated.
In that sense, he said that “The level of support that in a few days will have the liabilities of the Central Bank we have never had. Not even in convertibility and also with fiscal surplus. ”
“Although I cannot give details of what the rest of the agreement is, it seemed important to say what amounts we were talking about and that the new agreement implies,” said Caputo, which reveals the level of concern in the government.
The minister said that the purchase of the non -transferable letters that the treasure will buy from the Central Bank with the silver that he will receive from the IMF will be “to market value”, which calculated “that on the margin there will be a fall in the gross debt”.
“With this we will end the dollar stress in Argentina because we are not going to return to the fiscal deficit,” the minister insisted.
He also emphasized that “The agreement must help compress the country risk and with that Argentina can return to markets to refinance the capital of the next maturities.”
Caputo also pointed to the opposition of wanting to destabilize the government.
“As a result of what has happened in the last two weeks. When I see ‘exchange or crisis run’, I am surprised. Since we arrived in 14 months the exchange rate moved 15%. It seems a bit weird that it is a run,” said the minister.
Caputo emphasized that “there is an intention to destabilize the Government of Milei. There is a need and urgency to destabilize. The opposition does it organizing things like what they did in the last two weeks.”
“On the one hand a violent march, then there was a strong opposition intervention of the highest level to try to turn the session in the Congress where the possibility of having an agreement with the IMF was requested. Nor did that work, a letter was sent to the IMF saying that they were not going to respect this new agreement, which had its impact. And the fourth point is what is said about what is happening,” the minister complained.
Source: Ambito
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