D-Day for the agreement between the government and the IMF

This Monday will be essential for the government to count on the money of the international organization until next October.

February 10, 2019

The third technical mission of the International Monetary Fund (IMF), from the signing of an agreement with the agency, will come tomorrow to check compliance with the economic program which depends on an expenditure of 11 billion dollars for next March.

The mission led by the Italian economist Roberto Cardarelli, as confirmed by the IMF, will meet the Minister of Finance, Nicolás Dujovne, the President of the Central Bank, Guido Sandleris, as well as economists and men from Private sector business. Interviews with parties are not excluded. of opposition.

The government has agreed with the IMF of a 36-month program providing financial badistance of 56,000 million dollars until 2020, of which 28,000 million already granted to the government. Argentina in exchange for a plan of adjustment and a balanced budget during this year.

Mission should confirm that fiscal and monetary targets were met last year for the IMF Board to authorize a disbursement of $ 11,000 million in March, the largest amount for the Treasury since the original agreement announced in June latest. .

Sources at the Central Bank announced that the IMF will badyze the new limits of the zone of non-intervention of exchange rate policy and the maximum monetization allowed for the purchase of dollars.

The government is awaiting the approval of the public accounts with confidence, the Ministry of Finance having reached the target of primary budget deficit of 2.4% of GDP the previous year, which represented a decrease of 1 , 4 point compared to the previous year. 3.8% compared to the previous year, in line with the target set at the IMF.

For its part, the Central Bank has broadly achieved the monetary base targets set by the agency, including last month, despite the easing of the pesos on the market to buy $ 560 million the previous month.