IMF working constructively with Argentina until the country “has clarity about its medium term objectives”

IMF working constructively with Argentina until the country “has clarity about its medium term objectives”

IMF working constructively with Argentina until the country “has clarity about its medium term objectives”

Thursday, December 17th 2020 – 10:50 UTC



Georgieva reviewed the two technical visits of IMF’s envoys to Argentina, and the recent to IMF HQ of a delegation with Secretary of Finance, Diego Bastourre

The managing director of International Monetary Fund (IMF), Kristalina Georgieva, highlighted that “they are working constructively with Argentina” and ratified the commitment so that the country ”has clarity about its medium-term objectives.”

“Our commitment will continue as long as necessary: we want to work together,” emphasized the head of the IMF in an interview with the portal of El Pais from Spain.

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In a new sign of harmony with the Casa Rosada, Georgieva reviewed the two technical visits of Washington’s envoys to Argentina, and the recent arrival at the headquarters of the IMF of a delegation headed by the Secretary of Finance, Diego Bastourre, together with the Argentine representative to the IMF, Sergio Chodos.

”We are working constructively with Argentina: we have made two visits to Buenos Aires, and we have just received a team in Washington. Our commitment will continue as long as necessary for Argentina to be clear about its medium-term objectives: we want to work together,” Georgieva reiterated when asked about the term in which they expect to seal the agreement with the government.

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In other points addressed, the IMF director warned that “the pandemic is not over” so that recommended “maintain economic emergency programs”

“We are not out of the woods yet: the pandemic is not over. That is why we recommend that countries maintain support, focusing above all on the most vulnerable, but maintain it,” he said.

Along the same lines, Georgieva added: “Since the first days of the pandemic we have seen a very significant risk of an increase in poverty in the four largest Latin American economies: Brazil, Mexico, Argentina and Colombia. If it has been contained, this is precisely , thanks to those IMF supportive policies. Preventing poverty from skyrocketing must remain the first priority. Removing that lifeline prematurely is a danger in terms of poverty and inequality. Withdrawing support now would also hamper recovery.”

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During his exhibition at the Council of the Americas, Georgieva pointed to the Latin American region as the worst hit by the pandemic and predicted a mixed recovery in the form of letter K.

The head of the IMF projected that the recovery of the economy will be in the form of a letter K. ”One part recovers and does well, and the other falls even more. That can only be fixed with structural policies,“ said Georgieva, who in any case pointed out that falls can lead to an opportunity for ”get out in a better way.”

 

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