Post by account_disabled on Mar 5, 2024 22:02:39 GMT -5
The executive director of the International Monetary Fund, Kristalina Georgieva, said that The organization is not negotiating another plan with Argentina, beyond the one that is underway: "At this point we are not discussing a new program," she said about the possibility of renegotiating a different agreement and more in line with the commitments proposed by the new government of Javier Milei. The official spoke to the press a day after the executive board announced on Wednesday the green light for the disbursement of $4.7 billion. corresponding to the seventh review of the agreement, with strong praise for the libertarian's “ambitious” policies.
In dialogue with Washington news Asia Mobile Number List agencies, Georgieva was consulted about the possibility of replacing the current program - which was agreed during the Alberto Fernández government - with a new one more in line with the new president's vision of the economy. much more favorable to a harsh fiscal adjustment, even more intensely than the Fund expected.
Georgieva denied that “at this point” they are discussing this issue, “in my opinion, The Argentine Government correctly decided to resume the existing program ,” she said. And she added that "given the ambition they showed when we discussed the seventh review, it seemed like review number one, because there is a drastically different approach." she said in reference to the abrupt turn that the relationship with the Fund took since she took office compared to the previous administration.
The Fernández government had been failing to meet its objectives, but the program was definitively “derailed,” the organization stated, with serious macroeconomic distortions in the final months of last year, when minister and candidate Sergio Massa launched the “Plan Platita” that blew up all the objectives blown up. When Milei came to government, he quickly began to negotiate the fallen program with new and more ambitious objectives that imply a strong adjustment: a primary fiscal surplus of 2% of GDP and 10 billion dollars in reserves at the end of the year. The battered agreement was resurrected and the latest revision was approved.
In dialogue with Washington news Asia Mobile Number List agencies, Georgieva was consulted about the possibility of replacing the current program - which was agreed during the Alberto Fernández government - with a new one more in line with the new president's vision of the economy. much more favorable to a harsh fiscal adjustment, even more intensely than the Fund expected.
Georgieva denied that “at this point” they are discussing this issue, “in my opinion, The Argentine Government correctly decided to resume the existing program ,” she said. And she added that "given the ambition they showed when we discussed the seventh review, it seemed like review number one, because there is a drastically different approach." she said in reference to the abrupt turn that the relationship with the Fund took since she took office compared to the previous administration.
The Fernández government had been failing to meet its objectives, but the program was definitively “derailed,” the organization stated, with serious macroeconomic distortions in the final months of last year, when minister and candidate Sergio Massa launched the “Plan Platita” that blew up all the objectives blown up. When Milei came to government, he quickly began to negotiate the fallen program with new and more ambitious objectives that imply a strong adjustment: a primary fiscal surplus of 2% of GDP and 10 billion dollars in reserves at the end of the year. The battered agreement was resurrected and the latest revision was approved.