The board of the International Monetary Fund (IMF) will discuss the Argentine case tomorrow regarding the goals of the fourth month of 2022, according to sources from the Ministry of Economy. In addition, the agency agreed to postpone debt payments until tomorrow, when disbursements are released.
The IMF would approve tomorrow the goals of the fourth quarter of 2022 of the program with Argentina, which would allow more flexibility in the accumulation of reserves and it would release a new disbursement for USD 5,300 million.
The IMF technical staff had already evaluated compliance with the goals of the last quarter of last year and indicated that the reserves, fiscal and monetary objectives were met.
The easing of the reserve goal has as a counterpart the Argentine government’s commitment to apply “more solid policies” as requested by the IMF and speed up the reduction of energy subsidies, especially for higher-income sectors.
Argentina has the support of the United States, the country with the greatest weight in the decisions of the IMF board of directors, after the meeting between US President Joe Biden and Secretary of the Treasury, Janet Yellen, with Argentine President Alberto Fernández, the Minister Sergio Massa and other officials at the White House.
Massa also held a meeting with the number two of the IMF, Gita Gopinath, in which he promised to take measures to increase the accumulation of reserves in the Central Bank.
The Minister of Economy announced this afternoon in Washington the “agro dollar”, intended to strengthen reserves, such as expanding the export scheme. The differential exchange rate would be extended in addition to soybeans to other products of the regional economies and that it will seek to simplify the various exchange rates.
