Renegotiate with the IMF for (delayed) or $ 5.4 billion

After the 24 IMF Executive Directors approved the appointment of the Bulgarian representative at the end of September Kristalina Georgieva Succeeding the French Christine Lagarde – who left office to assume the presidency of the European Central Bank (ECB) as of November 1 -, the international credit agency has decided to postpone this week's negotiations on the Argentina's disbursement David Lipton himself, the first deputy managing director of the IMF, confirmed that he "was working for a possible resumption of financial relations with them (Argentina), which may have to wait a while."

The main question is whether the disbursement, which was in principle scheduled for mid-September, will take place after the elections of the 27th, having already experienced the result, or it will wait until December 10th, when starting a new mandate. For the moment, a possible disbursement in the next two weeks is practically impossible. In any case, it is necessary to emphasize that the US $ 5.4 billion is not an urgent need for Argentina because of the exchange restrictions announced by the Central Bank and the reprocessing of short-term maturities. term imposed by the US Treasury. . But it's a concern for the ruling party, which needs good news, in the face of elections.

From the side of the monetary authority, Sandleris will begin tomorrow with his agenda in the United States, speaking at the meeting of the Council of the Americas in New York. On Wednesday, he will hold various working meetings at the IMF. For Thursday, it is expected that he will attend the CVIII meeting of central bank governors of the Latin American Monetary Studies Center (CEMLA) and at the first session of the meeting of finance and finance ministers. G-20 central bank presidents, in addition to a few meetings with investors. On Friday, the BCRA official will continue the second G20 meeting and hold the first official meeting with Georgieva and Lipton. On Saturday, Sandleris will close his agenda with a few meetings with IMF member countries.

For its part, Lacunza will start Thursday with its agenda in Washington. The Treasury Portfolio Holder will join Sandleris at the G20 Finance Ministers 'and Central Bank Chairs' Meeting and will also attend the meeting with Georgieva and Lipton. In addition, he will participate in the World Bank's Development Committee and hold various meetings with investors, as well as various meetings with IMF member countries. Mr. Lacunza will be sending his first mission to meet with IMF staff, including his deputy minister, Sebastian Katz, his finance secretary, Santiago Bausili, and his finance secretary, Rodrigo Pena, who will also be taking part in talks with officials. BCRA. They will also organize meetings with groups of investors.