Sunday, December 5

The Government awaits a response from the IMF


Yes OK “There is no agreement yet, we continue negotiating”, as recognized by these sources, and clarified that the Argentine proposal (the details of which are unknown) “They contemplate what we consider sustainable” for the Argentine economy.

In this regard, from official dispatches it is stated that “the ball is on the side of the IMF” and they consider that it is the multilateral body that must accelerate its procedures to reach an understanding.

The official expectation is that this initiative will advance in the IMF and “This program is the one that Guzmán will present to Congress”, official sources explain.

“It seems that the intention of the government is to present the program that Guzmán developed and that he is trying to get the IMF to approve it,” sources in Washington explain. Based on the information that comes from the northern country, there are technical differences regarding monetary, exchange and fiscal policy that have yet to be resolved.

Likewise, another question is how Guzmán will convince Congress to approve a program with the IMF without any modification.

Tensions

The presidential announcement to continue advancing in the negotiations with the Fund is important at a time when tensions are registered in the exchange market with alternative dollar values ​​reaching record levels. Operators consulted by Ambit they interpreted this decision as a message intended to calm expectations.

The president remarked that “it is also time to solve the problem derived from the debt contracted by the Government that preceded me with the International Monetary Fund,” which he considered “The biggest obstacle we face to continue on the path of economic recovery and the construction of a country with more equity”.

The president affirmed that “we must face this challenge to repair, as far as possible, the enormous damage that this indebtedness has caused, and the consequences of which will weigh on several generations.”

He recalled that after turning out to be “a failure” the economic model of the previous government, “instead of changing course, they decided to take that debt of 44 billion dollars with a double purpose: pay the unsustainable debt that they had taken on with private creditors and give out the capital that they had entered only to speculate “.

The president ruled out “the supposed benefits offered by Tried and Failed Fitting Paths ”. He remarked that “in this new stage We will deepen our efforts to reach a sustainable agreement with the IMF.

And he specified that “we must clear the uncertainties that lead to unsustainable debts like this one. And we must do it preserving the conditions that allow us to continue on the path of recovery with job creation, while at the same time aiming at a persistent reduction of the inflationary problem ”.

It should be noted that the president made reference to the responsibility of the Macri government as a way of remembering that “They have the obligation to help solve a problem that they generated”, at a time when they will have less power in Parliament.



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