Dollar: what are the tasks that the government must meet to receive $ 21 million US from the IMF are

WASHINGTON A lack of good news about inflation or the state of the economy, the government has at least clear progress on the budget accounts. In two months, the Ministry of Finance has accumulated more than half of the primary surplus should show the International Monetary Fund (

MFIs

) To become a "cushion" of more than 21,000 million dollars before the election, the exchange of keys for peace.

The government achieved a budget surplus before paying interest on the debt of $ 23,384,000 in January and February. For the figures disclose, the Treasury said the result was 'a milestone' to achieve the first quarter financial goal $ 6000 million. For the first half, the government must show the fund has achieved a primary surplus of $ 40,000 million.

Roberto Cardarelli, head of the Argentinian Fund mission, will visit before checking that STEP

Nicolás Dujovne

achieved the goal of the first quarter. This should release a torsion fund of about $ 5.4 billion, which will arrive one day in late June. Then return to Buenos Aires Cardarelli before the general election in October to see if the government has fulfilled its half-yearly goal, to save an extra $ 5,400,000,000 by the end of September.

One of the budget goals Aspire commitment taken weight, the Central Bank and other measures such as the introduction of a bill amending the charter of the plant adds. Chairman of the monetary authority, Guido Sandleris, promised to exceed the objectives of the agreement with the Fund. But the focus is on tax figures.

"We expect to have a primary surplus next year, we will have very, very low financial requirements, we will have a very easy-to-manage financial program, we will pre-finance and do not think to modify the current program as we have with the Fund, "he said yesterday Finance Minister Nicolás Dujovne, in Washington interview with correspondents.

Dujovne announced in Washington that the
Ministry of Finance will sell $ 9.6 billion in daily auctions of $ 60 million until December.

Paradoxically, the government managed to get the Fund to agree to lend more money and to anticipate disbursements in exchange for the arrival this year of "zero deficit" before interest payments, but it did not shown only recently that the Fund had achieved this goal. at the beginning of 2020.

The government can even go beyond this objective and use a margin, already provided for in the agreement, of $ 37,000 million for social spending, or about 0.4% of gross domestic product (GDP). a result expected by many badysts. arriving Cardarelli will check this goal in the first months of next year.

At that time, Argentina will have already received nearly 95% of the funds provided for in the agreement.
Standby