The International Monetary Fund expects the pace of its ongoing discussions with Argentine authorities to accelerate in coming weeks, IMF spokesman Gerry Rice said on Thursday.
Rice told reporters at an online briefing that the Fund shared the view of Argentine authorities that the Latin American country needed a carefully balanced set of policies to foster stability, restore confidence, protect the most vulnerable, and set the basis for sustainable and inclusive growth.
We expect the pace of the meetings –all virtual– to pick up in the coming weeks, Rice said, noting that discussions had halted briefly over the holiday period. He added that the Fund is waiting for Argentina to present a midterm program
Argentine authorities continue to work in the drafting of their economic plan, and discussing specific measures for their implementation, while working to have it supported by a wide social and political spectrum, Gerry Rice said.
Market analysts in Buenos Aires recalled that Argentina must renew payments to the IMF, of which the first installment is scheduled for February first, some US$ 315 million. Likewise Argentina must begin to pay back, interest and capital, US$ 1,9bn at the end of September, and another similar sum a quarter later, in December 2021
The Argentine representative before the IMF, Sergio Chodos confirmed the resumption of discussions with the IMF. Building international reserves plus a considerable reduction of the fiscal deficit, and a midterm economic and financial program are the issues to address.
Chodos said that although there is no hurry in reaching an accord, he did admit it should be ready by May, and did not discard the possibility of requesting fresh funds from the IMF to face international commitments.