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Home / argentina / The International Monetary Fund, with a focus on the fiscal deficit and the dollar, met with the government for the first time

The International Monetary Fund, with a focus on the fiscal deficit and the dollar, met with the government for the first time



The International Monetary Fund, with a focus on the fiscal deficit and the dollar, met with the government for the first time

The technical mission of the fund had a meeting with the inquiries of Nicolás Dujova and Guido Sandleris. They will begin to define how the updated area of ​​the dollar will be without mediation.

The International Monetary Fund technical group launched a series of meetings with government officials on Monday to review the macroeconomic targets included in the financial aid agreement and launched a debate on how the flotation zone slope will be updated. dollar.

The mission of the organization, led by Italian economist Roberto Cardarelli, began his agenda with a visit to the central bank where he met with Deputy Finance Minister Miguel Braun and vice-chairman of central bank Gustav Cañoner.

This was the first meeting with national officials who served to establish a mission plan. At the first meeting, only technical issues related to the agreement between the government and the agency were discussed.

In this respect, the deficit targets were monitored, since this year, a full reduction in the imbalance of public accounts is expected, in addition to the BCRA monetary program, which includes control over the quantity of pesos in circulation.

Meetings were also attended by Jamaican economist Trevor Alleyne, a full-time delegate of the Monetary Fund in Buenos Aires, who recently left the temporary office at the headquarters of the monetary authority and continued to work in his own space.

One of the topics discussed at the meeting, which will be part of the entire visit, which will last until next week, refers to the exchange policy. "We will begin to discuss how the updated floating belts of the dollar will be," official sources said.

In the first phase, the highest and lowest values ​​of the non-interference area were restored every day with a rate of 3% per month. From January to the last day of March it will be 2% per month. According to the same sources, in view of the expected inflation for the next months, the slope of the exchange rate band will remain the same.

The meeting, which lasted just over an hour, took place at the premises of the central bank. In the coming days, contacts between the technical staff of the fund and national officials will continue. It is not yet confirmed that meetings with opposition leaders will be held on the agenda of the visiting committee.

According to estimates by the executive, next week, before the mission returns to Washington, the last meeting and photo will be held with Minister Nicolás Dujova and Guido Sandleris, President of the Central Bank.

Techniques will produce a report on the Argentinean economy in the organism's directory, which will vote in a few weeks later. If it gets its approval, something that will be discounted, the fund will send the treasury approximately $ 11 billion, which is the highest expected payout this year.

(Source: TN)


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