2023-07-19 08:30:00
This Wednesday night they will leave from Ezeiza hacia Washington the head of Advisors of the Ministry of Economy, Leonardo Madcurand the Secretary of the Treasury, Raul Rigo, two key officials of the economic team. It will be the second concrete signal sent by Sergio Massa to accelerate the closing of the negotiation with the International Monetary Fundfollowing having sent an outpost made up of the vice-minister, Gabriel Rubinsteinand by the vice president of the Central Bank Lysander Cleri.
The gradualness of face-to-face negotiations is part of the strategy that the also presidential candidate of the ruling party designed to step on firm ground and avoid being snubbed in the middle of the electoral campaign. He knows that he will have to take charge of the management and the tours to get votes, despite the wear and tear that it generates on him on a daily basis. At the IMF they valued the vocation for both roles and it became the main bastion for a reshuffle of the agreement, despite the failure of the originally stipulated goals.
The IMF confirmed that negotiations for a new review of the program with Argentina have begun
Until now, there was no news on the point of the negotiations. Hermeticism won the fifth floor of the Palacio de Hacienda, although Confirmation of Madcur and Rigo’s trip, from a qualified source who spoke with PROFILE, served as certainty of progressdespite the tensions surrounding the fiscal adjustment that the Fund is still demanding. There were two other signs unequivocal routes to the US capital: in the early part of the day spoke, via zoom, with the State Secretary of the German Federal Chancellery, Jörg Kukies; and with him international economic adviser to the US National Security Council, Myke Pyle. To both of you, representatives of two key countries at the Fund’s table, He asked them for their support to close the new agreement with the IMF.
The dollar crisis makes the closure urgent
No source wanted to risk the Massa’s departure for Washington. A true alternative is a trip on Thursday night to sign the agreement on Friday. If so, it would arrive at just the right time for the board of the Fund give him the go-ahead before summer break that the multilateral credit organization takes. A year agothe managing director, Kristalina Georgieva, He had to postpone his vacation to receive the then minister Silvina Batakiswho should have taken over the Ministry of Economy following the departure of Martin Guzman. Upon returning from that trip, Massa took charge of the Palacio de Hacienda.
“The IMF team and an Argentine delegation began face-to-face technical meetings this followingnoon (Tuesday) in Washington DC, to advance the fifth review of the Fund-supported program. It is expected that these meetings will continue for the next few days. We will communicate more details in due time,” said a spokesperson for the Fund, when asked by PROFILE. From then on, the Argentine negotiators kept the minister up to date on each point under debate.
Wholesale prices increased in June above inflation
The fundamental thing is in the disbursement of June, plus a complement of what remains for the rest of 2023. The objective is overcome currency tensions, typical of a renovation in the Casa Rosada, without surprises. To achieve it, Massa will take courage to show another face of management: driving a ship regarding to run aground, almost constantly. The antecedent during the closing of the management of Mauricio Macriwith an adverse result in the STEP that opened the door to a devaluation and a flight of capital, became the minimum objective to be achieved.
Less expenses, but more investment, the key to SME support
While the negotiations in the United States advance, the Unión por la Patria candidate intensified his campaign through management. Away from the claims of greater adjustment in the State accounts, Massa was inaugurating public works, with investments in security and sportsand closed the day together with businessmen from productive sectors, to whom he announced tax reductions and greater financing to stretch out the arrival of the recession announced by various analysts and economists, impacted by the negative shock of the drought in all supply chains. Argentine value.
The head of the Palace of Finance announced a package of tax measures aimed at more than 515,000 micro, small and medium-sized companies, which includes benefits in the payment of employer contributions and advances in income tax, and exclusions of perceptions and VAT withholdings, they pointed out from the Mecon. Besides, presented the expansion of the Potencia PyMEX programto boost the export profile of small and medium-sized companies, and launched a line of financing for the development of Argentine companies in the Knowledge Economy.
The Government announced tax relief measures for SMEs and MSMEs
He took the opportunity to ask for the support of SMEs, when he asked them to militate the good news that they took from the act that was held at the Ministry of Economy. Until there were the representatives of the most powerful productive entities, such as the UIA and the Chamber of Construction. But he was the president Industrial Argentine SMEs (IPA), Daniel Rosatothe one who made the endorsement explicit: “We feel heard and the responses also show the importance that SME factories attach to. He talks regarding a policy and an industrial model that we have been calling for and, for this reason, we left very satisfied with a meeting, where we were able to thank him for the decisions he made in favor of SMEs, as well as having the freedom to pose new challenges that are urgently needed. to the factories. Massa knows that his fight for the petty cash that allows him to campaign with money is inalienable.
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