IMF could suspend visit to Argentina scheduled for next week

The International Monetary Fund (IMF) may suspend the scheduled visit to Argentina next week. The explanation is that it is not clear even though the Minister of Finance, Nicolás Dujovne, will remain in his post.

Rumors about the government's alleged departure from Dujovne have been circulating for two days. The minister badured the IMF authorities that he did not subscribe to the latest measures announced by the government because they violated the agreement signed with the agency. In this regard, he indicated that he would rather leave than continue to support these measures, said Infobae.

In this context, and in a scenario very different from that imagined by the Government and technicians of the International Monetary Fund until recently, the Italian Roberto Cardarelli – responsible for the Argentine mission – could suspend his visit to the country.

The timetable had been determined well before the WWTP and could now be changed due to the currency crisis and possible changes in the economic team.

In this new trip, the interlocutors could also change. According to the aforementioned portal, contacts have been made in recent days with Alberto Fernández or his economic advisers. They would have evaluated the opportunity to maintain the price in peso.

The Fund's technicians had planned to travel to carry out the fifth revision of the triennial program. According to the deadlines set in the last report, the next approval (if any) of the progress of the plan should take place by the 15th of next month.

Prior to this, IMF envoys should review economic figures, verify compliance with budget and monetary targets, and submit their report to the Fund's Board of Directors. This process usually takes a few weeks.

Although the government said no, this week's announcements could have changed some variables, such as achieving the budget goal, on a case-by-case basis. That's exactly what Dujovne reportedly pointed out.

But the crisis has affected the numbers, which complicates the badysis. The dollar was relatively calm and was overtaking the Central Bank band ceiling overnight. Inflation, which is steadily declining, is skyrocketing to still uncertain values. And investors are investing heavily.

For the Fund's technicians, the challenge is complex. In all its reports, the IMF welcomed the progress of the government's economic program. He argued that it "bore fruit". I saw an economy that was starting to show signs of growth and left the recession behind.

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