Wearing the suit of Minister of Economy, Sergio Massa will leave this Monday for Washington to follow closely the vote of the Board of the International Monetary Fund (FMI) that will unlock some U$S 8000 million. After the meager result of the PASO y the subsequent devaluation of the peso, the head of the Treasury goes in search of the delayed disbursements of the credit agency to swell the coffers of the Central Bank. In addition, he will hold meetings with representatives of the government of Joe Biden to show himself as a presidential candidate who can provide “a guarantee of democratic stability.”
Massa will lead the chief of advisers in the entourage Leonardo Madcur, to the legal secretary, Ricardo Casal, and the Secretary for Economic and Financial Affairs, Marco Lavagna. The agenda will begin this Tuesday with a meeting with the managing director of operations of the World Bank, Anna Bjerdeand will continue with the visit to the president of the Inter-American Development Bank (IDB), Ilan Goldfjn. Then, he will meet with the representatives of the American Treasury, Jay Shambaugh y Michael Kaplan, and will dine with officials close to Biden.
One day later, the head of Economy will renew his photo with Kristalina Georgieva and the Board of Directors will discuss whether the disbursement committed in the technical agreement closed less than a month ago goes to Argentina. In official dispatches they affirmed Letter P that Massa will aim to improve the amount of the Special Drawing Rights (SDR) committed in the Staff Level Agreement (SLA). Later, she will have a chat with the Biden government official for Latin American affairs, Brian Nichols. As this portal learned, the theme of the meeting will be Argentina as a “guarantee of democratic stability with the region.”
The minister’s trip occurs after the IMF contacted Milei and her advisers from La Libertad Avanza after the libertarian economist’s bump in the primaries. The day after the elections, the Government decided to devalue the currency by 22% and the official exchange rate jumped to $350, a price that will remain fixed until October 31. The Fund immediately came out to celebrate the move and, in a television interview, Massa acknowledged that the increase was part of the agency’s requests in the negotiation.
After the trip, the minister-candidate will announce a package of measures with “axis in the productive, social, labor, objective in the recovery of income due to the impact of the devaluation that forced the IMF to do“, assured official sources. The Tigrense had anticipated that there will be an increase for AUH holders, retirements and a fixed sum for formal workers. It remains to know the details: if this increase will be within the framework of parities and what will Massa grant to comply with the compliance The risk is non-compliance by the private sector, particularly small and medium-sized enterprises. Massa’s plan is to return with the IMF dollars and a push for salary recomposition to put his mind on an eventual ballotage.
