Alejandro Werner leaves the IMF, main negotiator of the agreement with Macri – economic, financial and economic news

Alexander Werner, one of the main negotiators of the stand by agreement that Argentina signed with the International Monetary Fund (IMF) in the previous government, submitted his resignation. He ran out of negotiations for a new program, where the reference is his second, Julie Kozack.

The Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, today announced that the Director of the Western Hemisphere Department, plans to withdraw from the IMF on August 31, 2021an IMF statement said. It has not yet been defined who will replace it.

According to agency sources, Werner has headed the department for almost 9 years and “He felt it was time to look for a new professional challenge.” Those who follow the negotiations with Argentina consider that there is a factor “growing discomfort” and that “the conditions were created for him to want to leave.”

My sincere thanks to Alejandro Werner for his great expertise, good judgment and advice as head of our Western Hemisphere department!

His strong leadership has put his department on a solid footing to support members in the region. We wish him the best. https://t.co/Z0B8X5Qkqq pic.twitter.com/nQYSkX3ZOh

– Kristalina Georgieva (@KGeorgieva) April 28, 2021

Werner took office in 2013. “Alejandro headed the department in difficult moments and today he leaves it on a solid basis to continue the work of supporting our countries throughout the region, “said Georgieva.” I would like to express my deep gratitude to Alejandro for his great skill, good judgment and advice, and thank you for your excellent service and support. ”

Despite this, the official did not attend meetings with Argentina for a new program. Negotiation with Martn guzmn and the representative of the Southern Cone to the IMF, Sergio Chodos, Kozack directs them with the Argentine Chief of Staff, Luis Cubeddu.

During his last appearances, he considered that there were “interns” in the Argentine government and noted that they need to define policies for an agreement, such as the the structural reforms that the IMF puts as a condition for an extended installation program. He also said the times depend on Argentina, although he has doubts the possibility of an agreement before May.

“His in-depth knowledge of the region and his extensive experience in the public and private sectors, as well as in academia, have been invaluable,” noted Georgieva. Werner negotiated the Sleep program for $ 57,000 million with Nicols Dujovne and Federico Sturzenegger, during the tenure of Christine Lagarde at the IMF and her deputy, David Lipton.

With Werner’s resignation, the departure of who negotiated the “extraordinary” program with the government of Mauricio Macri. The former Argentinian chief of staff, Alejandro cardarelli was moved in 2019 and the Venezuelan Cubeddu took the reins. Lipton resigned in early 2020 and is now adviser to Janet Yellen at the US Treasury and The guard He has headed the European Central Bank since the end of 2019.

“Alexander played a vital role in the IMF advice to regional authorities on issues such as the fight against corruption and inequalities, as well as initiatives to promote inclusion and sustainable growth, thus contributing to considerably improving the economic prospects of the region, ”added the head of the agency in the statement.

Werner initially joined the IMF in 1995 as part of the Program for Economists. He left the agency to devote himself to other professional activities, and returned to Mexico to work as Director of Economic Studies at Banco de Mxico, according to the CV of the Fund. Later, he was appointed Undersecretary of Finance and Public Credit at the Mexican Ministry of Finance.