October 18, 2021

Lakeview Gazette

Complete News World

IMF surcharge: G20 support for Argentina | Ministers and central bankers asked the fund to reconsider its policy with borrowing countries

Page 12 Washington, D.C.

In the framework of this week’s meeting of G20 finance ministers and central bank governors in Washington, Argentina found support for the International Monetary Fund (IMF) on one of its key proposals. The forum, attended by Economy Minister Martin Guzman, called on the multilateral lending body to review its additional fees. Our country is at the center of negotiations with the lending institution for loans granted during the Ricio Macri government.

In an official statement, the G20 called for the creation of a new fund to “help low-income countries, small developing states and vulnerable middle-income countries.”

“We thank the IMF for updating the surcharge policy, and we look forward to discussing this issue with the IMF Executive Committee in the light of the interim review of precautionary balances,” the document released after the summit said. It was held at the same time as the annual meeting of the G20’s Finance and Central Banks, the International Organization and the World Bank in the US capital.

The surcharge on interest rates indicates one of the key points used by Argentina in its negotiations with the IMF, while Alberto Fernandez seeks to repay nearly $ 45,000 million in debt from the state administration. Previous

This week, at a meeting with businessmen, the president mentioned the talks. Fernandez told the businessmen on his Twitter account that “it is necessary to reach a better deal” and that the government’s goal is to “benefit all Argentines”. “We want to reach that agreement as soon as the conditions are met,” he added.

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At a press conference this Wednesday, given the structure of the annual meetings, IMF Managing Director Kristalina Georgieva said the company had not “made a decision” on the issue of aviation assistants, which represents an additional cost to Argentina of about $ 900 million a year. For the first four years of grace proposed by Argentina alone as part of a ten-year new expanded facilities plan, the additional charge would be $ 3.6 billion.

Georgieva held a meeting with Kuzman this week, accusing him of benefiting China in an index when he was the head of the World Bank as head of the IMF. The head of the organization said he had a “good meeting” with the Argentine official and wanted to continue “working closely” to meet Argentina’s challenges in a sustainable and more sustainable and inclusive manner. ” Based on “finding a path to centralization and firm principles.”

On Twitter, Guzmn described the meeting with Georgia as “valuable”. “We hope that his leadership will continue to take steps to change the IMF’s ethics developed by the global financial power, which has contributed to another unequal and insecure world conducive to the leadership development of the people,” he said.

The G20 meeting also had the idea of ​​sustainability, which called on the IMF to establish a new fund to raise the stability of the money balance, especially considering the risk of future epidemics and climate change. In the statement, the headlines called for the IMF and the World Bank to “work closely” to create and implement this funding.

In Washington, Guzman met with current German Finance Minister Olaf Souls this Wednesday to discuss the possibility of forming a government to replace Angela Merkel (if he succeeds enough). The meeting of the German Social Democrat leader took place inside the summit of G20 ministers and central bank governors and was attended by the IMF, Sergio Sodos and the head of the affairs division, the South Cone director. Ministry of International Economics, Maya Kolodenko.

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This is not the first time Guzman and Scholes have had a conversation. They had already met in Venice in July, and at another G20 meeting they talked about the economic situation in Argentina and the support of German companies investing in the country.

Although he was in the US capital, Guzman sent a message to the IDEA joint venture held at the Costa Salcuero Exhibition Center in Buenos Aires. In his video, he was optimistic about the exchange policy being pursued by Argentina and promised that “there will be no devaluation.”

The minister also stressed the “essential” role of the state. “It solves problems that the private sector cannot solve on its own, and that reflects how we manage the economic problem: infrastructure, knowledge creation, application of knowledge in production,” Guzman said in his speech.