New IMF mission arrives tomorrow in country for fourth revision of agreement

WASHINGTON.- A new mission of the

International Monetary Fund (IMF)

headed by Roberto Cardarelli will land this Wednesday in Buenos Aires to advance the fourth revision of the confirmation agreement that began to take shape exactly one year ago, when the president

Mauricio Macri

announced at Casa Rosada that Argentina would request badistance from the Fund to deal with the new exchange rate wave that triggered the economic crisis.

Cardarelli, head of mission for the IMF in Argentina, will review the budget figures for the first quarter of this year and directly badess the progress of the economy, alongside Macri's economic team and local economists and badysts.

"During the mission, the IMF team will meet with representatives of the government and the Central Bank, as well as representatives of the private sector, academia and civil society," said a spokesman for the Fund.

In addition to Cardarelli, the head of the IMF's Western Hemisphere Department, Alejandro Werner, "will also participate in part of the mission, as has been the case on other occasions". According to the Fund, Werner's presence is something that usually happens when your agenda allows you to accompany the agency's missions, either in countries with ongoing programs, such as Argentina, or just to participate in the preparation of article reports. IV This year, Werner has already visited Mexico and Brazil and negotiated the program with Ecuador in Quito in February.

Since the first quarter's financial figures are close to the objectives of the program, the mission will offer Werner and Cardarelli the opportunity to examine face-to-face the alterations of the economic plan with the Minister of Finance.

Nicolás Dujovne,

the president of the central bank,

Guido Sandleris,

and the rest of the economic team.

Once the review is complete, Cardarelli will resubmit a report to the Fund's Board of Directors, which will have to decide after June 15 if it publishes a new project worth US $ 5,400 million, the last installment before the presidential election.

This report will include the latest changes to the central bank's monetary policy, including the freezing of the exchange rate range and the go-ahead for Sandleris and his team to use the reserves, which include a Fund loan, to follow the unfold the so-called "calm plan".