The Minister of Economy, Sergio Massa, returns from the United States to the country with funds for US$2,000 million and negotiations with the International Monetary Fund (IMF) underway to set new goals and disbursements to the Extended Facilities Agreement in force that will take place in the next two weeks.
According to sources from the Palacio de Hacienda, Massa raised US$900 million from the Inter-American Development Bank (IDB), US$600 million from the World Bank and US$500 million from the Arab fund for infrastructure investments on his trip to the IMF and World Bank Spring Assembly this weekend. .
Economy officials noted that It is about money that is going to be disbursed throughout this year and that obtained collateral guarantee operations from multilateral organizations for another US$1.2 billion to issue debt.
But beyond the fresh funds obtained, In the Ministry of Economy, it is considered an important achievement to have opened a negotiation with the organization led by Kristalina Georgieva to weigh the effect of the overwhelming drought in this year’s goals that devastated Argentina, which he says has the full endorsement of the United States Department of State.
“Due to the drought, we managed to rebalance the Program with the Fund. And the axis with which they speak is to build a “bridge of trust”. It is a triumph to put the drought on the IMF’s agenda,” said an official from the Palacio de Hacienda, who specified that “now two weeks of negotiations are coming up.”
The idea that was reflected in the conversations held by the Minister of Economy in Washington is that of generating a bridge between multilateral organizations so that Argentina can go through the effects of the drought, ttaking into account the importance of the country in terms of food security, energy and potential development in the Knowledge Economy.
The negotiations that will take place in the next two weeks will not only include a new target for international reserves, fiscal deficit, and monetary issue for 2023.
The Argentine government also intends to modify the IMF disbursement schedule, which this year has a negative flow for Argentina of more than US$2 billion.
