The president Javier Milei, who arrived in Washington to participate in Donald Trump’s inauguration ceremony on Monday, attend several galas and receive recognition for his economic reforms, will face a key meeting this Sunday with the director Manager of the International Monetary Fund, Kristalina Georgieva. At this meeting, the president will seek to finalize a new agreement with the organization that could include a disbursement of around US$11,000 million in funds that, according to the Government, They would facilitate the elimination of the exchange rate without inconvenience.
Milei is accompanied in Washington by his sister Karina, who serves as Secretary General of the Presidency, and by the Minister of Economy, Luis Caputo. The chancellor also joined the delegation Gerardo Werthein.
The meeting with the IMF is scheduled for 3 p.m., Argentina time. Before this meeting, Milei will visit the Milken Institute, a prominent think tank, where last year he was invited to give a conference in Los Angeles.
Although the Government trusts that the good harmony between Milei and Trump could be the key to unlocking new disbursements from the organization, the biggest doubts arise regarding Argentina’s over-indebtedness with the IMF. Likewise, the Fund’s concerns regarding the exchange rate weigh heavily.
Voices from the city speculate that the new agreement could be extended until after the elections, when the Government could adjust the value of the dollar, less tied to the need to sustain inflation with the exchange rate as the main anchor.
In dialogue with ScopeFide’s chief economist, Pedro Gaite, was skeptical of the possibility of an agreement prior to the elections. The thing is, “The Government is very convinced that the exchange rate policy is not touched because it is the axis of the inflationary policy, which in turn is the priority”. At the same time, if there is no exchange rate correction, the specialist does not believe that there could be disbursements from the international organization.
“The agreement with the IMF would be left for after the elections – in his opinion – since there the Government could eventually carry out a more or less controlled devaluation with the arrival of funds and perhaps with some lifting of exchange controls.”
Participation on Monday at Trump’s inauguration will be another instance to follow advancing in the possible Free Trade Agreement (FTA). The possibility finds voices for and against, and has an additional multilateral obstacle, since Mercosur could be a stumbling block in the President’s plans.
Investments: the arrival of Donald Trump and the link with Javier Milei
The United States is the main investor in Argentinawith US$30,000 million and a participation that exceeds 18% of the total. It is also the third trading partner, behind Brazil and China, with an exchange of US$12 billion, a balance that is structurally in deficit for the country, according to a report released in the last few hours. ABECEB before Trump’s inauguration.
“Notable products include crude oil, naphtha and organic and inorganic chemicals, which together represent 36% of total exports, worth US$2,084.7 million accumulated as of November 2024“, mentions the work.
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Presidency
In that sense, it is worth noting that in addition to Milei, the governor of San Juan, Marcelo Orrego, and the mayor of the Neuquén town of Añelo (heart of Vaca Muerta), Fernando Banderet. Cards that mark, at least, the interests of the United States in the country: mining, fundamentally projects linked to copper, and hydrocarbons.
Then, in Switzerland, where Milei will leave on Tuesday, investments will continue on the agenda. Thursday the 22nd will be the busiest day in Davos for the President. At 6:15 he will give a 30-minute speech at the Forum and a while later, at 7, he will hold a meeting with the CEO of Coca Cola, James Quincey.
Source: Ambito
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