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IMF mission expected in Argentina any moment; Fernandez expects to reach an accord by March 31st

Friday, December 27th 2019 - 09:55 UTC
Full article 2 comments
According to presidential sources, Fernandez trusts he can solve the issue with the IMF before March 31st According to presidential sources, Fernandez trusts he can solve the issue with the IMF before March 31st

Argentine president Alberto Fernandez revealed to media accredited at Government House, Casa Rosada, that in the coming days an IMF mission is scheduled to arrive in Buenos Aires to address economic issues.

“My main concern is to calm down the economy and Argentina”, Fernandez told reporters at the Casa Rosada during an end of the year toast. He confirmed that in the next few days an IMF mission will arrive in Argentina to continue debt and payment negotiations, which he described as a major “condition” for the country.

President Fernandez attended the event for almost an hour with his spokesperson, Juan Pablo Biondi, cabinet chief Santiago Cafiero, the Executive secretary Julio Vitobello and the deputy advisor Julián Leunda.

According to sources from the meeting, the president trusts he can solve the issue with the IMF before March 31st. “We have been holding negotiation for quite some time and hopefully we can reach an accord by that date”, indicated the Government House sources.

As to the negotiations, where, when, how, they remain a top secret. So as far as the media is concerned it is not clear whether the target is a “shave” of capital or a deferral of the new maturities

But as president Fernandez repeatedly reiterated on the campaign trail, at Government House the idea is that the IMF has to share the “responsibility” of having awarded such a large standby credit and with not much consideration for the management of the economy by the previous administration of pro business president Mauricio Macri.

Categories: Economy, Politics, Argentina.

Top Comments

Disclaimer & comment rules
  • imoyaro

    Anything you say, Kamerad/Komrade.,anything you say. You will come up with anything you can to rip of the true producers in this world...it is in your blood. :)

    https://s1290.photobucket.com/user/imoyaro/media/kkrique_zpsirhmgbzl.png.html?sort=2&o=24

    Dec 31st, 2019 - 08:34 am 0
  • Enrique Massot

    The IMF would be interested in reaching an agreement with Argentina rather quick. An Argentine organization considers the IMF loan to Argentina was done in violation of Argentine laws and is trying to have the whole agreement quashed by the courts.

    The president of the National Movement of Recovered Enterprises has filed a statement of claim asking the courts to declare null and void all the IMF-Argentine agreements for USD 50 billion, later increased to USD 7.1 billion.

    Former president Mauricio Macri and several former government officials have been named for breach of a public official’s duties, because the loan was approved without opening a required administrative procedure supported by judicial opinion, all steps a country’s authorities must complete.

    A resolution of the Central Bank and another from the president of the Nation authorizing the borrowing were also missing. The claimants allege the loan was simply based on memorandums that lacked support from reports, studies and/or recommendations.

    Dec 28th, 2019 - 01:30 am -1
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