MercoPress. South Atlantic News Agency

IMF admits discussions with Argentina continue but no meeting planned for May

Gerry Rice, who earlier this month said the IMF would “do our utmost” to meet a timetable for May, stopped referring to May as a target for striking a deal.

IMF has no date yet set for its next visit to Argentina to discuss replacement to a failed 2018 program, a spokesman for the Fund advanced on Thursday. The parties could next meet in Washington soon, as Argentine Economy Minister Martin Guzman will visit the U.S. capital next month, according to Buenos Aires sources.

But the next meeting in Argentina is, however, up in the air. “We don’t have a precise date yet for the next formal IMF mission at this stage,” said Gerry Rice, the IMF’s head spokesman.

Notably Rice, who earlier this month said the IMF would “do our utmost” to meet a timetable for May, stopped referring to May as a target for striking a deal.

Discussions continue, he said, as the Argentine authorities lay out their economic plan and “build a broad support for the policies” that would underpin a Fund-supported program.

A group of Argentina’s creditors said last week it was concerned the IMF talks over a new deal were being “subordinated to politics.”

Sergio Chodos, IMF Executive Director for Argentina, said in an interview with local outlet elDiarioAR last week that a deal before May was preferable, but not a priority.

Argentina is looking to replace a program signed by the previous government and for which it currently owes the IMF about US$ 45 billion.

Rice said IMF staffers continue to work on an evaluation of the 2018 program aiming “to draw lessons, so that we can incorporate those lessons, and do even better in serving our members in the future.”