The IMF completed its mission in Argentina and will return in November to renegotiate the debt

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The IMF met with Miguel Pesce and will do so tomorrow with the CGT







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The first mission of the International Monetary Fund (IMF) His visit to Argentina ended on Sunday, October 11, after meeting with various actors in the country’s politics and economy, in order to negotiate an agreement that allows Argentina to refinance around US$ 45.500 millones debt maturing in the next two years.

During the five days that the mission lasted, the IMF envoys analyzed the public accounts, the demands of the private sector, and the damaged social fabric after several years of falling economic activity and the effect of the current pandemic; and listened to members of the national government, the opposition, business sectors, union and civil society.

Headed by the Deputy Director of the Western Hemisphere Department, Julie Kozack; and the head of mission for Argentina, Luis Cubeddu, the mission ended one day before the start of the annual meeting of the IMF and the World Bank.

The Annual Assembly will be held on this occasion virtually, and its focus will be on the recovery of the economy from the pandemic, framework in which it will release its GDP estimates for the global economy and Argentina for 2020 and 2021.

Arroyo and the IMF: “There is no place for an adjustment in Argentina”

The plan includes a new visit next November, still without a precise date, which would have a more profound character to advance the negotiations, unlike the current one that sought a first impression of the Argentine reality.

During the week, the president Alberto Fernandez and the owner of the Fund, Kristalina Georgieva, set the tone for the negotiations to reach an agreement without an explicit request for spending adjustment, which allows Argentina an economic recovery with more employment and a reduction in poverty.

During their stay, Kozack, Cubeddu and Alleyne held technical meetings with the Minister of Economy, Martin Guzman; the president of the Central Bank, Miguel Pesce; the Minister of Social Development, Daniel Arroyo placeholder image; and the Secretary of Energy, Darío Martínez.

They also did the same with the conduction of the Argentine Industrial Union, the General Confederation of Labor and leaders of Avoid Movement, and of the Social Economy of Social Development; legislators and representatives of civil society.

JD /

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