This Tuesday, government sources announced Page I1The International Monetary Fund (IMF) will formalize a new agreement with Argentina on the dollar-denominated reserve accumulation targets it has reached, after an apparent request by Economy Minister Sergio Massa to consider the impact of war and drought. A country’s potential for foreign currency acquisition. That IMF decision to make Argentina more flexible was the only goal Argentina had compliance problems with The result was a three-way game in three different countriesDe Massa and his technologists are meeting with joint ventures in the United States, Argentina and India at a G-20 finance ministers’ meeting this weekend to finalize the deal.
As this newspaper has learned, the final numbers will be announced by the IMF, but what the parties have committed to is a plan to reduce the balance sheet target in the short term. Disturbance in March, April and June, then the target will rise because Massa believes that the country will gradually recover reserves this year after a very difficult phase. The first period is the most difficult because almost all liquidation of the soybean farming industry has been lost due to drought. Throughout the year, in fact, the CIARA-CEC chamber estimated losses of more than 10 billion dollars.
A three-way strategy
Saturday before Massa’s trip to Bengaluru, Leonardo Madgur met with Lisandro Cleri, head of the Treasury Advisers, in Massa Tigre, the city where the G-20 was held. Directly from BCRA, Gabriel Rubinstein, Deputy Minister of Economy; Raul Rico, Secretary of the Treasury; Ricardo Casal, Legal and Administrative Secretary and Eduardo Cetti, Financial Secretary. At the meeting, it was decided to work on the same model to achieve a drop in the reserve target in three different scenarios: Chetti and Casal will continue to work on meetings in Buenos Aires and regular communication with Massa. The team includes the Secretary of Production, José Ignacio de Mendicuran, the Secretary of Trade, Matthias Tombolini, and above all, Guillermo Michel, the head of the Customs Department, who he describes as “employees of maximum confidence to Massa”.
A few hours later, a second team flew to Washington, led by Madcur, Rubinstein, Cleri and Rigo, for technical meetings at the IMF and negotiations with Venezuela. Louis Kuppetto, head of the organization’s missions to Argentina, and an acquaintance of many. Meanwhile, Massa, who landed in Bengaluru with Marco Lavagna, head of INDEC and in charge of relations with international institutions, and Flavia Ryan, energy secretary, took part in the political lobby.
Revision of Reserve Target as Masa’s Model for Technical Negotiators in WashingtonDiscount“or “sorry”, but the long-term damage caused by the drought and the ongoing war between Russia and Ukraine. Rubinstein was in charge of showing the impact on financial numbers and reserves. Other than dollars, the remaining targets will be met.
It is worth clarifying that the IMF will have to disburse the 45 billion loan installments. Macri, Argentina must comply with the targets set in the quarterly reviews. That is why negotiation is important.
parallel, Massa backed a claim launched by his predecessor, Martin Guzmán, that the company should not charge the country extra tax for issuing excessive debt..
There was a protest in India
The political footprint of Masa’s lobby was centered in Bangalore A key meeting was with Jay Shambaugh, head of international affairs at the US Treasury Department.. The organism is the political arm that authorizes the operations of the International Monetary Fund. Another little-known fact is that Massa crossed paths with the head of the Treasury at the G-20. Janet Yellen, with whom he also discussed the matter over lunch on Thursday. During that lunch, the Treasury approved the amendments and the process of political stabilization achieved with Massa’s arrival. The idea of adjusting the reserve target began to close there, because, in short, if there was no change, compatibility with the remaining variables would suffer.
The minister made another support-seeking move before finding himself alone with IMF chief Kristalina Georgieva. He has bilateral agreements with finance ministers of the European Union, including France, Germany and Italy.. With Canada, all the IMF’s member countries and hot seats in the decision-making. Argentina, in particular, has had almost full support from European powers since the days when Guzmán negotiated loans with private creditors.
Later, on Saturday, Massa had dinner with Georgieva and her right-hand man Geeta Gopinath, where they discussed the topic. A few hours later, Georgieva used her social networks to highlight the crowd. The truth is that after the geopolitical debt to Macri and the change of political identity in the US, the IMF removed all its managers and management relations. Biden with Fernandez Changed the scene. It remains to be seen what the level of target reduction will be, and what advantages Argentina will have to fight for other reforms.
Who are the individual legislators who voted for nationalization of YPF in 2012?
The impeachment trial against Guillermo Lasso moves forward: what the Ecuadorian president is accused of | The court gave its green light on Wednesday
What would happen if Donald Trump was arrested by the US Secret Service?