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IMF: Economy officials travel to Washington to negotiate with the agency

Credit: Ministry of Economy

The finance technical team of the Minister of Economy, Martín Guzmán, will travel to Washington tomorrow to continue the exchange of technical meetings with the IMF and to promote the development of the Argentine capital market.

“Diego Bastourre, Ramiro Tosi and Mariano Sardi travel to Washington on Thursday with the aim of holding meetings based on the agenda of promoting and developing the capital market, “official sources told Télam.

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Likewise, “Technical exchanges with the IMF on the financing program are planned”, added the source.

Negotiations with the IMF for a new program formally began during the November mission and they will continue this month, in principle virtually, although it is not ruled out that a new face-to-face visit to Argentina will be scheduled later.

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Last night the director for Argentina before the IMF, Sergio Chodos, took off for Washington DC to continue with the tasks of negotiations with the IMF from there.

In fact, Chodos was the one who confirmed yesterday to Télam that “the meetings in December will continue virtually”, and also stated that he did not rule out that more face-to-face meetings are scheduled,

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Guzmán and Chodos held a meeting yesterday in the framework of the negotiation process for a new agreement with the Fund, with the director of the United States before the IMF, Mark Rosen, with whom they maintained “a very cordial dialogue”, when explaining the progress of process.

Rosen was already aware of some of the information provided by Argentina yesterday, because he informed Argentine officials that he had previously met with the IMF staff.

The United States is known to be one of the top board players when it comes to voting on the board.

Meanwhile, the other objective of the Government of this trip will also be to develop the local capital market and, in this regard, it was indicated that both Martín Guzmán and the finance team “They continue with a fluid dialogue with investors after having restructured the debt and, during this trip, they will seek to deepen that institutional dialogue.”

Thus, the market development strategy will have three main axes: a more tactical one that has to do with the current state and the horizon in the capital market; meanwhile, the second, “linked to the national financial inclusion strategy as part of the policy to promote development with equity”; and the third, the market makers program that has to do with deepening financing in peso strategy.

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