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Montevideo, December 5th 2021 - 11:41 UTC

 

 

Argentina and IMF resume discussions and “fresh funds” could be included in the package

Friday, January 15th 2021 - 09:39 UTC
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“We expect the pace of the meetings - all virtual - to pick up in the coming weeks,” Gerry Rice said, noting that discussions had halted briefly over the holiday period “We expect the pace of the meetings - all virtual - to pick up in the coming weeks,” Gerry Rice said, noting that discussions had halted briefly over the holiday period

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.

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  • imoyaro

    Why would anyone lend money to the Communist/Fascist Peronists?

    Jan 17th, 2021 - 07:28 am +2
  • pgerman

    Alberto Fernandez, and all Peronism, criticized the monetary and financial policies of Mauricio Macri but they are doing the same and worse now.

    They criticized the short-term bonds of the Argentine Central Bank, called “letters”. Now the value issued by those letters is more the double than what Mauricio Macri had issued.

    They criticized Macri's indebtedness with the IMF (paying an interest rate of 4%) but Alberto Fernandez “takes” debt at a rate of 16% ...

    They did not cancel a single debt bond with an expiration date during the year 2020. And now this, they are looking for a new agreement with the IMF for more “fresh funds” ... at least Mauricio Macri left a fiscal deficit of 0.45% in the 2019.

    Trying to understand Peronist economic policies is really a “impossible mission.”

    Jan 18th, 2021 - 04:46 pm +1
  • Chicureo

    The IMF only asks that Argentina needs a “carefully balanced set of policies to foster stability, restore confidence, protect the most vulnerable, and set the basis for sustainable and inclusive growth”.

    Which my Argentine cousins will charmingly promise with special allowances due to this world economic crisis.

    It's a Ponzi scheme that is admirable and proves how beautifully the intricate Tango dance is so seductive in accomplishing almost anything.

    Crime does pay and blaming your troubles on someone else is an Argentine way of life.

    Jan 16th, 2021 - 03:19 pm 0
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