2023-11-29 00:18:00
The head of the International Monetary Fund (IMF), Kristalina Georgieva, said that the organization is “very interested” in supporting Argentina and that the country might be a candidate to receive financing through its Trust Fund for Resilience and Sustainability ( RST, or FFRS).
“The most important way Argentina can help itself is by addressing the macroeconomic imbalances that have accumulated. Furthermore, “We are very interested in supporting Argentina, addressing the deep problem of inflation, creating an environment for private sector-driven growth that can boost employment and the economy in general.”Georgieva told Archyde.com.
And he added that he seeks to discuss Argentina’s vulnerability to climate events, such as drought. “They have very important structural problems that the Fund can help them solve, as well as very important adaptation issues,” he stated.
Milei will present a “shock plan” with enormous reforms in the first hours of his mandate
It should be noted that the Resilience and Sustainability Trust Fund was created in 2022 by the IMF and offers long-term financing to help low- or middle-income countries. to increase their resilience to external shocks and address structural problems that pose macroeconomic risks, such as climate change and pandemics.
Meanwhile, an IMF team headed by the First Deputy Managing Director, Gita Gopinath, already met this Tuesday in Washington with Nicolás Posse and Luis Caputo, economic advisors to the president-elect Javier Milei. During the meeting, “The complex challenges facing the country and plans to urgently reinforce stability and lay the foundations for more sustainable growth were discussed. Both teams will continue to collaborate closely in the future. Rodrigo Valdés, director of the Western Hemisphere Department, Luis Cubeddu, deputy director, Ashvin Ahuja, head of mission, and Ben Kelmason, senior resident representative, also participated in the meeting,” according to IMF spokespersons.
The most anticipated meeting
In the run-up to her inauguration on December 10, Milei held a virtual meeting with Georgieva last Friday, which the IMF head described as a “very constructive engagement, a very serious discussion.”
“The IMF is committed to supporting efforts to lastingly reduce inflation, improve public finances, and increase growth led by the private sector,” Georgieva had noted on the X social network.
“Today I had an excellent conversation with the director of the IMF, in which we discussed the great economic challenge facing our country. I told her regarding different aspects of our fiscal adjustment plan and our monetary program. The Fund was collaborative in finding the structural solutions that Argentina needs,” said Milei for his part.
LD
1701218509
#IMF #interested #granting #loan #Argentina #Georgieva
