The government has acknowledged its concern over Kristalina Georgieva’s continuity in the IMF

The institutional crisis that the International Monetary Fund is going through and which he put CEO Kristalina Georgieva on a tight rope and raised alarm bells in the national government, a few days before the IMF summit during which the Ministry of the Economy will seek to advance negotiations on a new financial program.

The government identifies Georgieva as a central ally in the debt restructuring process and considers the accusation against her in a World Bank investigation to be a sort of “bill pass” for certain financial sectors in the United States to withdraw her from the principal presidency of the Monetary Fund.

According to official sources, the role played by the Bulgarian economist in setting up discussions within the body on a new type of financial program with more accessible conditions and on the distribution of special drawing rights (SDRs) of rich countries vis-à-vis those with middle and low incomes, they have earned the enmity of certain sectors of what they call the government “the financial institution”.

As Infobae pointed out this morning, the Fund’s board today discussed his possible resignation and Europe, the continent that historically defines the head of the organization (the US does with the World Bank), is divided on its continuity. According to the Financial Times, France supports it, but Germany and Great Britain doubt it.

The importance given within the Executive to the next IMF and G20 summit, next week in Washington, is no less important. The Argentine delegation that will visit the North American capital this weekend believes that there will be a strong geopolitical component that could decide Georgieva’s continuity in the coming months at the IMF.

“The IMF in 2020 did not play in favor of the creditors. In the coming months, many countries will have to restructure their debt and there is a sector of the world that wants to have an instrument like the Fund in its possession»Mentioned a source of the economic team.

On this plateau where the continuity of an ally of the government on the external front will be played out, the Casa Rosada expects that some European countries like France, Italy, Spain and the social democracy in Germany They will support Georgieva and it remains to be seen what will be the position of the United States, the main shareholder on the IMF board.

Government identifies Georgieva as central ally in debt restructuring process

In government, however, they do not exclude that – in the worst case from their point of view – Georgieva is displaced from the management of the body. “It wouldn’t be good if Georgieva is still in a weaker position. But what matters are not the names but what is the basis of sustainability available to the CEO, ”they say.

AND In the event that the Bulgarian economist leaves his post in favor of a management with a different profile, they assure, “the relationship with the Fund will be different”. The political upheavals within the body, according to official sources, did not affect the dialogue with the Staff technique, which has continued in recent months. This morning, in addition, the responsible for the Economy continued the dialogue with the countries of the G20 to refine the agenda of the next week.

The Minister of the Economy Martín Guzmán will lead in the coming days the Argentine delegation that will travel to Washington to participate in the summit of the International Monetary Fund and the World Bank.

The chef of the Palacio de Hacienda will have an activity from the start in the North American capital. Guzmán’s official agenda will include technical meetings with IMF staff, which for this negotiation with Argentina is headed by the deputy director of the Western Hemisphere department. Julie kozack and the head of mission Luis Cubbédu.

Guzmán’s agenda in Washington will not be exhausted by high-level meetings with the Monetary Fund, but will also be linked to the World Bank and, according to official sources, will also have bilateral meetings with delegations from other countries. On Friday, he will stop in New York to meet with investors.

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