The recent meeting between the Minister of Economy of Argentina, Luis Caputoand the managing director of the International Monetary Fund (IMF), Kristalina Georgieva, has generated a series of reactions and analyzes in the country’s economic and political sphere.
Despite the praise and words of encouragement to Luis Caputothe specific result of the meeting was the absence of new fresh funds for Argentina, which has left many wondering about the future of the relationship between the country and the international organization.
The meeting, which took place on the sidelines of the annual IMF-World Bank summit in Washington DC, was described by both sides as “very good” and “constructive.” Georgieva highlighted Argentina’s progress in stabilizing its economy and supporting the most needy sectors, and expressed her commitment to continue working with the country on its path towards a more prosperous economy.
“We are aligned with the country’s priorities,” Georgieva said. However, despite the praise and recognition of the Argentine effort, there was no mention of fresh new funds. Caputo and his economic team had arrived in Washington with the mission of directing a new negotiation with the IMF and obtaining more financing to support the recovery of the economy.
However, the Economy Minister clarified that there was no formal request for new funds and that the conversations focused on the country’s current priorities and challenges. The current Extended Facilities (EFF) agreement with the IMF expires in December of this year, and the Argentine government is exploring different options to move towards a new program.
Caputo He mentioned that there are several possible mechanisms, such as requesting a new program at the end of the current one, unifying pending reviews or even not doing them. However, he insisted that any new agreement must be under good conditions for the country.
Management
The IMF, for its part, recognized the interest in negotiating a new agreement, but stressed that the current talks are taking place in the context of the current program. Luis Cubeddu, head of the IMF mission in Argentina, stated that Argentine authorities are exploring points to move towards a new program and that there could be news on this matter in the coming weeks.
The strategy of Luis Caputo She has been described as pragmatic and cautious. The Minister of Economy decided to postpone the formal negotiation with the IMF to agree on a new program, arguing that an early opening of the financial stocks could affect the stability of the adjustment plan.
follow us on Google News and on our channel instagramto continue enjoying the latest news and our best content.
