Just a few weeks after the International Monetary Fund (IMF) made the first review of the agreement that it signed with Argentina at the end of March, the director of the Western department, Ilan Goldfajn, spoke about it.
The representative of IMFassured at a press conference that, in order to meet the goals established for the refinancing of 45 million dollars, the most important thing is the “implementation of the program” that was set with the organism.
In this sense, the director of the Western department of the IMF assured that they will not be modified “the fiscal goals, of reserves, because they are the objectives of the program”.
Under this line, one of the priorities for the Government will be to reduce inflation, as well as protect the most vulnerable, given that the current conflict in Ukraine could have a negative impact on the national economy.
Source: Telam Agency
“The important thing is to prioritize the poor and protect the most vulnerable,” said Goldfajn, who also stressed that although no changes will be made to the goals of the program, the effects of the war will be considered in the first review.
“As in many other countries, Argentina was affected by the global inflationary shock. The entire region is facing high inflation. The review will usually take into account the new reality in all countries.”
It should be remembered that, within the agreement, it was established that, as a condition for making disbursements, The agency will make an exhaustive review of the program every 3 months and for 2 and a half years.
This, in order to corroborate that the Government meets the established goals, which according to the Minister of Economy, Martín Guzmán, during the first quarter of this year, was achieved.
The agreement with the IMF is in the implementation stage
After signing the agreement with the organism on March 25, this is in its first phase of implementation, so the Government is already seeking to reduce the fiscal deficit and inflation.
The economy minister even took advantage of his visit to Washington to meet with Kristalina Georgieva, director of the IMF and review what has been its first month of implementation.
