After disbursement, Dujovne and Sandleris attend IMF and WB annual meeting

After the approval of the International Monetary Fund (IMF) a new disbursement under the confirmation agreement, the Minister of Finance, Nicolás Dujovneand the president of the central bank (BCRA), Guido Sandleris, they travel on Tuesday for United States attend the annual meeting of the governing body Christine Lagarde and the World Bank (WB).

The agenda of the two leaders includes various meetings with investors and financial institutions, but one of the highlights of the Assembly will be held Thursday, when the directors of both agencies announce global and regional economic outlook for this year, according to the agency Telam

For his part, the director of the IMF, Christine Lagarde He warned a few days ago that the world economy had lost its vigor "and that it was at a delicate time", although he said that the "world economy" was a bit of a joke. The agency did not see a recession in the short term and expected a recovery in growth by the end of the year and in 2020.

IMF approved new disbursement but warned against inflation

During his speech at the US Chamber of Commerce, he traced the evolution of the global scenario with two data: just two years ago, 75% of the global economy was rebounding; this year the fund forecasts 70% of the global economy experience a slowdown.

In this context, Dujovne and Sandleris will seek to show how the Argentine government has managed to overcome the financial crisis of 2018 and he is on track to comply with what had been agreed with the IMF, namely to get a budget balance in his accounts this year.

New disbursement. On Friday, April 5, the IMF Board of Directors confirmed the approval of a new disbursement corresponding to the support credit granted to our country. This is a transfer of 10.870 million US dollars.. On the IMF's official website, Lagarde praised the government's economic policy and said: "The policies of the (Argentine) authorities at the base of the agreement are bearing fruit."

IMF and WTO predict a slowdown in the global economy in 2019

In this context, the representative of the Agency stated: "There are indications that the recession has bottomed out and a gradual recovery is expected in the coming quarters. "However, and beyond the praise, he noted that" inflation remains high; Inflationary expectations are rising and inflationary inertia is hard to break. "

In addition, the head of the IMF told the government the need to increase the revenue of state coffers at the end: "Given the lower than expected level of tax revenue in the first half, it will be essential to act with caution in the execution of expenditure plans and take other measures to increase tax revenues so that the fiscal situation of 2019 reaches the primary balance. There is a need to redouble efforts to improve the fiscal framework and debt management in the medium term. "

F.D.S./EA