With a currency that trades above 490 pesos, the economic agency explained that “the staff works to strengthen the economic program.”
By iProfessional
25/04/2023 – 15,54hs
The International Monetary Fund (IMF) supported the negotiations with Argentina by ensuring that “Talks are progressing constructively.”
In the midst of the escalation of the exchange rate, spokespersons for the organization indicated that “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.”
Given the skyrocketing of the dollar, the IMF confirmed negotiations with Argentina
Along these lines, from the IMF they affirmed that “The exchanges between the authorities and the International Monetary Fund team are progressing constructively.”
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.
A delegation from the Ministry of Economy will travel to Washington this Thursday to speed up the renegotiation of the agreement with the IMF.
The Minister of Economy, Sergio Massa, assured today that “all the tools of the State will be used to order this situation.”
Given the skyrocketing of the dollar, Massa received the support of the President and the International Monetary Fund.
The minister also announced that he will use “the economic Criminal Justice as a vehicle for investigation and clarification of some behaviors and the FIU 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 his communication on social networks.
The blue dollar began today’s session with a strong rise that brought it to $497 around 13. With the MEP at $462 and the CCL passing $480, the Central Bank began to intervene in the market and forced a drop in both prices.
Massa and the rise in the dollar: “We are going to use the tools of the State to order the situation”
After the president’s diagnosis Alberto Fernandezwho pointed to the “Argentine right” due to the rise in the dollar, the Minister of Economy, Sergio Massasaid they will use “all the tools of the state“to solve the economic instability.
when the blue dollar reached 497 pesosthe head of the Palacio de Hacienda activated his first public expressions about the foreign currency since the bullfight began last week.
“It’s been several days since we live in an atypical situation of rumorsversions, false reports and their consequent impact on financial instruments linked to the dollar,” Massa understood, on Twitter. Later, he warned: “We are going to use all the tools of the State to order this situation.”
In this sense, he argued that They notified the IMF of the “restrictions” that weigh on Argentina and asserted: “We are going to change in the rediscussion of the program.” This is how he winked at his Kirchnerist partners in the coalition, who are complaining about how the agreement with the organization was negotiated and pressing to seal another pact.
