The IMF would remit the funds at the end of the year, but under certain conditions

The government will continue to deal with the IMF for disbursement, although it has already admitted that it could be postponed after the elections. The agency will wait until we know that the economic program of the elected government defines the disbursement.

Finance Minister Hernán Lacunza will meet the Fund's leaders in Washington on September 26 to prepare the ground for US $ 5.4 billion to strengthen the central bank's reserves.

"The more we spend time, the more the domestic policy is cleared and the less it is possible to pay a program technically fallen and with more uncertainties than certainty," said the source of the negotiation Profile. Some former officials said that if a payment arrived at the end of the year, it could be subordinated to its use for debt redemption.

"The government will continue its efforts, but the alternative, with carryover postponed, is to see if it will continue with the proposed payment scheme and if there is a level of reserves that are not there. has not been used, perhaps lend a hand "to make the payment, said former Finance Secretary and Quantum Finance Director Daniel Marx.

IMF spokesman Gerry Rice said on Thursday that "the complexity of the market and the political uncertainty in the future make the situation even more difficult."

Ongoing disbursement could be a form of conditioning for renegotiation. A former IMF official said that "the macroeconomic reality will condition already enough". "It is possible that a disbursement before December is conditional on its use to buy back a debt at lower cost," added the source. "There will be no free availability as the government wished."

For Marx, although the debt buyout "is always a wish", the important thing is to deal with short-term payments. The idea of ​​buyback was proposed by Roberto Lavagna at the beginning of the year and was later supported by other members of the opposition, such as Diego Bossio.

The IMF, on the other hand, could tighten under the conditions for 2020, in the event that a general revision of the figures and the program would result in an "extended financing mechanism" agreement, which would make it possible to take the repayment of funds from the Fund. Organism at 10 years old.

This is not the first time the IMF has delayed disbursements. "At the time, Greece and Portugal were also framed by intermediate turns," said one of the sources consulted. But there will be no ratification of the delay. "It's not practical for anyone to explain it.The formal steps are simply followed until the exam is completed," he said. The text in the revision of Article IV of the Fund indicates that the badysis of the Argentine accounts and the corresponding disbursement should be done by 15 September at the latest, but will not be completed.

This week, Christine Lagarde ceased to be the Executive Director of the IMF. A few days before the arrival of Lacunza, his potential successor, the Bulgarian Kristalina Georgieva, will meet the agency's board of directors. The official designation is expected by October 4th. After 27 October, it will be Georgieva who will establish contacts with the elected Argentine government.

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