2024-07-23 18:44:00
Minister of Economy, Louis “Toto” Caputo, Will attend the G20 ministerial meeting from Thursday to Friday It will be held in Rio de Janeiro. Finance Minister to meet face-to-face with Managing Director International Monetary Fund (IMF), Kristalina Georgieva and U.S. Treasury Secretary Janet Yellen.
The meeting came days after President Javier Milley launched a scathing attack on Rodrigo Valdes, the International Monetary Fund’s director for the Western Hemisphere, accusing him of opposing the Argentine government.
In a wide-ranging interview last Friday, “Now” was direct and forthright He insisted that Valdes “does not want Argentina to perform well, he has bad intentions”.
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“The head of the IMF mission to Argentina was complicit with the previous government. Rodrigo Valdez clearly had bad intentions. He has another agenda. We were too submissive to everyone, but they were more willing to support (Sergio) Massa’s disaster. Why did the IMF allow Massa everything? We over comply with everything and they keep doing buts. He was behind all the disasters in Massa and everything he did to us he did to us,” Millais said.
“He is not my boss, my boss is the Argentine people. This is the decision of the International Monetary Fund. Who knows why the International Monetary Fund asked us to participate in the Sao Paulo Forum?”, he declared in a statement to Neura.
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The president’s statement came mid-session Quiet of Body international about Government announces latest measures to intervene in spot market settlements. The IMF is notoriously silent on such measures mandated by regulations.
With all this, the Finance Minister will travel to Brazil in the next few hours to meet with the Finance Minister. Finance Minister Pablo Quirno, This would complete the Argentinian delegation. Quirno will attend a meeting of representatives of the Group of 20 economic ministries and central banks to be held on Tuesday.
The economic team is waiting to communicate with Georgieva The possibility of releasing new funds at some point within a framework New plans for the Caputo flyby could take place by the end of the year.
More importantly, at the June 28 meeting (where it was announced that the paid liabilities would be transferred from the BCRA to the Treasury), Caputo admitted that they began discussing new plans with international organizations. The second part of the monetary policy “will be part of this new program and it is very important for us to advance it together with the Fund to remove doubts, especially in currency and exchange rate-related markets,” the minister said.
He also clarified that there was no formal request for additional funding from the IMF. “We’re just talking about a new plan,” Caputo said of reports that the economic team is asking the IMF for an extra $8 billion to escape the currency trap, but he also insisted the spending would help escape the currency trap. Trap trap.
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There is such a version on the market Caputo’s biggest hope is to secure up to $15 billion in loans.
Although after the announcement at that time, the fund supported the transfer of paid liabilities, recognized the government’s multi-faceted efforts, and praised the overfulfillment of goals, it still did not take a position on the decision to intervene in CCL, and created uncertainty about reaching a new agreement with new funds.
The government will deliver what it considers to be one of its greatest achievements: six consecutive months of fiscal and fiscal surpluses.
Caputo’s agenda in Brazil
On the sidelines of the G20 meeting, which will also be attended by Finance Minister Pablo Kilno, Caputo will hold a bilateral meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva; with the U.S. Treasury Secretary Janet Yellen; and Jay Shambaugh, Treasury Undersecretary for International Affairs.
Caputo will participate in, in order, discussion panels on the global economic outlook and current challenges; financial sector issues and financial inclusion; and international tax cooperation. Within this framework, the Minister will also analyze, together with G20 representatives, issues related to the liberation of finance to achieve climate and sustainability goals, and will serve as lead in the Linkage Group on Financing for Development: Debt, Capital Flows and Reforms Spokesperson Multilateral Development Bank.
Finally, the Finance Minister will meet with World Bank President Ajay Banga; with OECD Secretary-General Matthias Coleman; and French Finance Minister Bertrand Dumont. In addition, the minister also arranged meetings with Giancarlo Giorgetti, Italian Minister of Economy and Finance; and Ilan Goldfjan, President of the Inter-American Development Bank (IDB).
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