Friday, December 3

The IMF calls for the government’s plan to have “broad political and social support”


In this way the organism makes it known that “Conversations continue” but it does not specify the level of progress in the negotiations with the team chaired by the Minister of Economy, Martín Guzmán. If you take care to clarify that you are looking for a “Complete understanding” implying that this agreement has not yet been reached.

It should be noted that Argentina, when negotiating an Extended Facilities agreement that involves a 10-year program, the Fund also demands that it have the greatest consensus of the country’s political forces. “As long as it covers more than one electoral period,” they explain in the body.

In addition, since the negotiations began, the Government also anticipated that its intention was for the eventual agreement to be approved by Parliament.

Moreover, the Frente de Todos always questioned that the Government of Mauricio Macri has not submitted to Parliament the agreement for which Argentina demanded some 56,000 million dollars.

Precisely what is being negotiated is the restructuring of this loan that requires commitments of about 19 billion dollars in 2022.

The President this Sunday in his speech confirmed that in December the program designed by the economic team and the points of agreement reached with the IMF staff will be sent to Congress. This does not mean, official sources explained, that the program has the full endorsement of the agency. “We will present what the Argentine government is willing to implement”, they point out at the same time that they admit that what will be sent to Parliament means the agreement with the IMF. “It will contain the points that the Government is willing to comply with”, they explain at the Casa Rosada.

The talks continue and Argentina continues to demand that the Fund make a decision regarding the surcharges for exceeding the loan installment, funds that will demand an additional US $ 1 billion per year. This claim, from the ruling party, was known to put as a precondition to reach an agreement with the body that presides Kristalina Georgieva.

Also, this Monday, President Alberto Fernández reiterated his request that “States that do not require these Special Drawing Rights may voluntarily assign them to Nations that do need them.”

If Fernández prospers, what he aspires is to “promote a Pact between developed countries and Latin American and Caribbean countries to use these SDRs in the capitalization of Regional Development Banks, accompanied by the creation of a Stabilization Fund that support with guarantees to strengthen their countercyclical action ”explained the president in his speech at the ceremony for the 30 years of the first meeting of Heads of State and Government of the countries of the Ibero-American Community.



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