The Director of the International Monetary Fund (IMF), Kristalina Georgieva, offered a press conference in Washington in the framework of the Spring Meetings of the International Monetary Fund and the World Bank, where he highlighted the efforts of the Argentine Government to meet the goals of the program.
The Bulgarian economist recognized the commitment of the economic team since the second half of 2022 to develop a management that achieves compliance with the conditions of the program with the lender of last resort. In addition, she pointed out that the Executive Board of the Fund completed the fourth review of the program on March 31 thanks to the progress made by the Frente de Todos management.
In this sense, Georgieva highlighted that Argentina has been affected by a severe drought which has undermined the performance of the economy and significantly harmed the country’s population. Therefore, this situation cut short the work of politicians and forced the agency to partially adjust the goal of accumulating net international reserves.
Before arriving in Washington, Massa met with a key figure in the Biden administration.
Georgieva explained that the body she leads is studying the implications of this shock and has reached an agreement with the Argentine government to continue refining policies and adapting them to current conditions.
“Implementation will continue to be crucial to the success of the program, even in these challenging circumstances”, remarked the Director of the Fund.
During her speech, Georgieva highlighted the importance of Massa’s management and the fulfillment of the program’s goals in the context of the critical economic and social situation that Argentina is going through, and reaffirmed the IMF’s commitment to the country to continue working together in the implementation of economic policies that help the population and the economy to recover.
News in development…
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