In the midst of the escalation of the different dollars -blue, MEP and CCL- and after the announcements of the Minister of Economy Sergio Massa, the International Monetary Fund (IMF) confirmed today the negotiations with Argentina by assuring that “talks are progressing constructively”.
“The technical staff continues to work with the Argentine authorities to strengthen the economic program agreed with the country in the context of the very severe drought. The exchanges between the authorities and the International Monetary Fund team are progressing constructively”highlighted a spokesperson for the agency as reported Argentine News.
Although a change in the program was not confirmed, work would be done on a modification of the scheme, such as the assumptions of reserve accumulation, fiscal deficit and quantity and amount of disbursements this year, which is currently stipulated in three “installments” for a total of a little more than USD 10,000 million.
The silence of the IMF before the requests of the Argentine government to modify the current program was one of the points that added uncertainty in the market, after the Government did not comply with the deficit goal at the end of the first quarter.
Next Thursday, a delegation from the Palacio de Hacienda will travel to Washington to speed up the renegotiation of the agreement with the IMF.
After this noon the blue dollar reached $497, the MEP $462 and the CCL passed $480, the Minister of Economy, Sergio Massaannounced that “all the tools of the State will be used to order this situation.”
In addition, the head of the economic portfolio anticipated that he will use “the economic Criminal Justice as a vehicle for investigation and clarification of some behaviors and the UIF and the CNV for the analysis of operations related to money laundering.”
“At the same time, we are going to continue with the multilateral agreements, exporters with the transformation of exports into yuan and the disbursement agreement with the IMF to strengthen the reserves that were affected by the impact of the drought,” the minister concluded in an official account of Twitter.
