2023-07-13 15:54:06
The International Monetary Fund (IMF) cooled this Thursday the possibility of a quick agreement for the reformulation of the program with Argentina and reiterated that virtual talks are being held in pursuit of understanding.
On another note, the agency denied the report indicating that China – a member of the Board of Directors – had sent a letter urging the institution to reach an agreement with the Argentine government, expressing at the same time its willingness to help the country face its maturities until the end of the year.
The IMF today expressed its position on the situation with Argentina during a press conference in Washington headed by the spokesperson, Julie Kozack, as this medium anticipated yesterday.
While the IMF made it clear that the negotiation is at least bogged down, the dollar maintained its upward trend in the City of Buenos Aires, climbing up to $506, given that doubts regarding an early agreement began to turn into certainties.
Moments before Kozack’s contact with the international press, in Buenos Aires the presidential spokesperson Gabriela Cerruti had warned that: “The negotiations with the IMF are going to take as long as they have to take so that the interests of the Argentine people are preserved.”
With this scenario it is confirmed that Argentina will have to meet with its own resources the obligation for US$ 2,700 million that operates on July 31, as a result of the unification of the three maturities of the month.
In this sense, Kozack confirmed that the last payment for US$ 2.6 billion had a component in yuan and assured that it is a valid option because “it is one of the five currencies that IMF members can freely use.”
Asked regarding specific aspects of the negotiation, Ozack evaded the answer and limited herself to reiterating the same phrase that she has been repeating for two months: “The teams are working intensively with the Argentine authorities to try to advance in the fifth revision of the agreement and help the government in a very complex situation”.
He added that it is intended to “preserve stability, improve the accumulation of reserves, and fiscal sustainability.”
Kozack’s statements also leave the trip of Argentine officials to Washington on hold, a possibility that was not confirmed -as anticipated by this medium- due to the serious differences that still remain in the consolidation of goals.
Throughout the week, the economic team let it be known that the trip was imminent, but finally today the IMF revealed that the positions are still far away and there are no prospects of a closure in the short term, such is the need of Argentina.
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