The maturities planned for this year hasten the negotiation with the IMF. Although the Government assures that it has already presented its proposal and is now awaiting the response of the multilateral organization, the meetings continue.
Not only the economic team participates in the discussion, but also the Argentine ambassador to the United States, Jorge Arguello, and the chancellor santiago cafiero, who will travel to Washington this Sunday night.
I also read: Mario Blejer warns that it is not enough to agree with the IMF: “It is time for us to learn to swim”
There, the former chief of staff will meet with the secretary of the United States Department of State, Antony Blink. The purpose of the talk is to try get the support of that country -the main shareholder of the IMF – for the new financing program for Argentina.
This was recognized in an official statement: “Cafiero plans to meet with Blinken next Tuesday, within the framework of the talks that Argentina carries out with the IMF to refinance the debt contracted in 2018 by the administration of Together for Change”.
I also read: Morgan Stanley warns that without agreement with the IMF, the actions would fall more than in the PASO 2019
This Friday, before embarking on the trip, Cafiero was received by the Minister of Economy Martin Guzman in the Treasury Palace. As officially reported, the meeting was for “review the status of negotiations with the IMF”, prior to the foreign minister’s trip.
How is the negotiation with the IMF today?
In recent weeks, Guzmán acknowledged that the divergences between the IMF and Argentina focus on the tax trail. The agency requires a more abrupt adjustment, which will lead to the balance of public accounts in a few years.
On the contrary, the economic team proposes longer-term objectives, with a gradual reduction in the deficit that would lead to balance in 2027. According to Guzmán, this decision is based on avoiding an adjustment that could jeopardize recovery economy of the country.
The head of the Palacio de Hacienda said that he reached several understandings with the technical staff of the IMF, but charged against the countries with greater power within the international financial institution.
I also read: A Wall Street giant warned that “a light agreement” with the IMF “is doomed to failure”
“At the level of shareholders, clearly there has been a growth in understanding of the situation, but that understanding It has not happened at the speed that would be desirable to have an agreement already with the IMF. What the Argentine government wants is for this process of understanding to be accelerated,” Guzmán said in a dialogue with The country.
U.S It is the most important country in the IMF directory, since it holds 16.5% of the votes based on the quota it contributed at the time of the organization’s constitution. In second place, although further away, are Japan and China, with 6.15% and 6.08% of the votes, respectively.