The delegation sent by the Argentine government to the capital of the United States, headed by the vice minister of economy, Gabriel Rubinstein, and the head of advisers of the Palacio de Hacienda, Leonardo Madcur, indicated that they are finishing defining the details with the officials of the International Monetary Fund (IMF), for “close the fourth review of the Extended Facilities Agreement”.
According to information provided by the Argentine economy portfolio, they hope that “on the brink of the weekend the technical negotiations will be completed”, so that the head of the IMFKristalina Georgieva, endorses before the board of the organization, the approval of the review on the fulfillment of the 2022 goals, which will leave open the possibility of a new disbursement from the Credit Entity, in the month of March, for 5,400 million dollars.
The portfolio that Sergio Massa is in charge of explained that so far in 2023, “Argentina has already turned to IMFclose to 3,200 million dollars”, which They are part of the total maturities of 19,850 for this year, which contemplates a primary deficit target of 1.9%; given in part, by the impact of the drought on the agricultural harvest and the consequent drop in foreign currency income. Economy He also cited the continuation of the war between Russia and Ukraine as the cause of the deficit, which “affects energy prices and transportation and logistics costs.”
Sergio Massa said in mid-January that the international credit organization “It was not fulfilling its commitment to review the costs of the war in Ukraine”, and remarked that “Argentina fulfilled its program”. For most private analysts, Argentina met the goals set for 2022 “in the level of reserves and in the limit to transitory advances from the Central Bank to the Treasury.”
According to some official working documents, Argentina imported fuel for 5.8 billion dollars in 2022, in contrast to the 2 billion dollars projected before the start of the warwhich represented an increase of US$ 3.8 billion.
