The IMF sent for the first time an optimistic message on the recovery of the economy

WASHINGTON.- The International Monetary Fund (

MFIs

) suggested a slight optimism about the Argentinian economy, indicating that "signs" of relaxation were beginning to appear and that a gradual recovery was expected in the coming months, as well as a further decline in the economy. inflation.

"We are seeing signs that the recession may be easing and a gradual recovery is expected in the coming quarters," said Gerry Rice, the IMF's director of communications, during its traditional press conference at the IMF's headquarters. Agency in Washington.

Inflation, he added, continues to be a "challenge", but in the fund, they expect it to continue to fall.

Rice avoided commenting on Argentina's political developments after the closure of the coalitions and the presentation of the presidential election fronts, among which stands out the president's new alliance.

Mauricio Macri

with Miguel Ángel Pichetto; the formula of the "third way" integrated by the former Minister of the Economy,
Roberto Lavagna and the governor of Salta, Juan Manuel Urtubey, and the sealed unity between Front Renovador's leader, Sergio Mbada and Alberto Fernández, presidential candidate of Kirchnerism.

"We do not really comment on political developments, we let others," dodged Christine Lagarde spokesperson.

But the political realignments and, in particular, the incorporation of Pichetto into Macri's friend's formula sparked the markets' enthusiasm. Country risk and
the dollar fell and equities rose, which had a stronger effect on investors' mood than the official announcements or even the Fund's program.

Rice has indeed sought to reinforce the latest message offered by the Fund after the meeting of Lagarde and Finance Minister Nicolás Dujovne and the President of the Central Bank, Guido Sandleris, in Japan at the meeting of the G -20: they make "important progress". The Fund and the Government continue to work on the agreement on the fourth review of the confirmation program, which will be completed one year next week. Upon completion of the current review, the Fund's Board of Directors must decide to approve a new project worth US $ 5,400 million, which could be disbursed in the early days of July, according to the report. time of previous revisions.

"We want to help the Argentine government take advantage of these positive developments that will restore confidence and lay the groundwork for a recovery," said Rice.

IMF head of Argentina Roberto Cardarelli said on his last trip to Argentina that "the worst was over" and said it was likely that the final figures for the first quarter could provide a better picture. image of the situation. planned. Added to this is the "exchange rate" reached since the end of April, when the Fund gave the Central Bank permission to intervene on the dollar price to mitigate volatility.

Even in this case, the Fund's predictions in the past are far from being realized and Lagarde herself acknowledged a few days ago that the crisis was underestimated in the organization.