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The Government resumes meetings with the IMF – Latest News, Breaking News, Top News Headlines




After the impasse that the parties implied, The Government and the International Monetary Fund will resume their virtual meeting agenda this week. The negotiation will accelerate its pace in the coming weeks with the aim of closing the agreement, which must then be approved by the body’s board and by the National Congress, before May, the month in which Argentina faces a maturity of more than USD2,000 million with the Paris Club. In any case, the director before the IMF for the Southern Cone, Sergio Chodos, assured that « there is no urgency » to close the program.

Speaking to AM 750, Chodos did not rule out the possibility of requesting fresh funds, in addition to the around USD45,000 million needed to refinance the debt left by the stand-by signed by Mauricio Macri. Although he assured that it will not be the central point and that, if it arrives, they will not be used to fuel capital flight.

In addition, he recalled that Extended Facilities programs, such as the one requested by the Government, generally have a maximum term of ten years. Days ago, the version of a 20-year agreement had gained momentum.

 

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