He also asked that “these ‘unexpected’ resources go immediately to retirees, students, universities or for some other purpose other than guaranteeing financial savings.”
The governor of the province of Buenos Aires, Axel Kicillof, he questioned to the management of Javier Milei by “wanting to take over” the IMF’s decision to reduce surcharges for the loan he granted to the then government of Mauricio Macri in 2018. “It has nothing to do with it,” he assured.
He International Monetary Fund (IMF) announced last Friday a reform in its policy on charges and surcharges, something that will benefit Argentina by about US$3.2 billion, as confirmed by the Government. The decision to cut rates for debtor countries was announced this afternoon in a statement by the head of the organization, Kristalina Georgieva.
One day after knowing this decision of the IMF, Kicillof published a post on X where he made a brief “history” review about the origin of the loan and the different negotiations with the international organization.
The first thing he remembered is thatThe current debt with the IMF was taken by President Mauricio Macri in 2018. Upon taking office in 2015, Argentina owed nothing because “in 2005, Néstor Kirchner, with a historic decision, canceled all the debt, removing the control of the IMF, one of those responsible for the 2001 crisis,” Kicillof highlighted.
The Buenos Aires president described the loan of 45 billion dollars as “irresponsible” that the IMF granted to the Macri government. When reviewing that point, he recalled an important fact: “When this disaster occurred, Macri’s minister was the Messi of debt and flight and he is the same as today: ‘Toto’ Caputo.”
Finally, Kicillof He asked that “these ‘unexpected’ resources go immediately to retirees, students, universities or for some other purpose other than guaranteeing financial stability.”
Reduction of surcharges: Argentina will save US$3.2 billion from the loan with the IMF
After learning of the decision of the Board of the International Monetary Fund (IMF) regarding the surcharges, the Secretary of Finance, Pablo Quirnowho was in charge of carrying out the negotiations for the flight attendants during the administration of Javier Milei, pointed out that “Argentina obtains savings of US$3.2 billion and a reduction of almost 30% in the payment of charges and surcharges on the loan with the IMF.”
Through social networks he commented that “After exhaustive work by the Ministry of Economy through the Ministry of Finance and our executive team at the IMF, carried out since the beginning of President Milei’s mandate that included installing the issue of the review of charges and surcharges in the G20 and the IMFC (International and Monetary Committee of the IMF) and after meetings with economic ministers of the G7 and countries affected by this policy, we managed to have the issue addressed today by the IMF Board.”
The IMF board approved reducing the base rate margin from 100 basis points to 60, reducing the rate of time-based surcharges from 100 basis points to 75 and increasing the threshold of the level at which surcharges are charged from 187, 50% of the quota to 300%.
Source: Ambito
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