Lacunza discussed with the IMF the stabilization plan

As the Fund has stated in a brief statement, the meeting does not fall within the scope of the 5th revision provided for in the confirmation agreement, but to "badyze recent economic and financial events and the government's political plans. "

Let us agree that since the last mission visit, more than a month ago, many things have changed. Suddenly, the scenario before the elections foresaw a drop in inflation, a stable exchange rate and a nascent economic recovery although very limited to a few sectors. Beyond the usual interlocutor, Nicolás Dujovne He is no longer in his position.

In addition, politically, IMF officials would not be curious if they returned to the United States with the feeling that, in the October elections, there could be a parity between the proposal made by President Macri and Alberto Fernández for the Front of all.

However, the macroeconomic variables resulting from the last devaluation must be corrected, In this regard, it is estimated that annual inflation could reach more than 50% and that gross domestic product would fall by more than 2%. The IMF estimated that the annualized price increase would be about 40% and that the activity would be down 1.5%.

In its latest review, the IMF estimated that the deficit would remain around 0.3% of GDP, while warning that the tax revenues from the recession would be lower. In this regard, questioned the decision to freeze the rates until the end of 2019. They also cautioned about the uncertainty surrounding the presidential elections and the fact that this situation could affect the short-term debt.

In light of the latest changes, particularly in electoral matters, the Fund'sHe will meet the economic advisers of the main presidential candidates for an exchange of views. "

L & # 39; opposition

The meeting with the economic team of Alberto Fernández will take place on Monday and they will participate Cecilia Todesca, Guillermo Nielsen and Santiago Cafiero. The Front pour Pour Tous teams will certainly inform the Fund of their concerns about the progress of the Argentine economy, the weight of the debt, the decreasing level of international reserves which, since the last payment by the IMF, have been reduced by more than US $. 9,000 million, as they told Lacunza, at Wednesday's meeting.

When it is presumed that they can have an agreement with IMF officials is the criticism of fiscal measures and referrals to the oil sector although for different reasons, the Fund because it involves a higher fiscal cost and meanwhile the economists of the opposition because it is attributed to the provinces.

Although the agency is expected to want more details in the sense of the commitment of Alberto Fernández to comply with all obligations and all contracts in force. However, and as noted on several occasions, this conformity must be carried out "Within the framework of an alternative economic model that favors price stability and the resumption of growth and employment".

It is clear that the opinions of Todesca, Cafiero and Nielsen on the outcome of the agreement with the Fund are essential. They argue that the fundamental objectives have been surpbaded, such as: public debt reduction path, reduction of inflation, resumption of growth and creation of jobs to fight against poverty. They also questioned the "Worry about the pbadivity of the body" In view of the decline in reserves and the aforementioned violations, they said in a statement last Wednesday.