Guzmán and Pesce meet in Washington with the IMF team

The Minister of Economy, Martín Guzmán, and the president of the Central Bank, Miguel Pesce, will hold a meeting in Washington this Monday with the staff of the International Monetary Fund (IMF) led by Julie Kozack and Luis Cubeddu.

On Tuesday, Guzmán will meet with the managing director of the IMF, Kristalina Georgieva, based on the agenda released this Sunday night by the Ministry of Economy.

With the meeting with the IMF staff, Minister Guzmán will begin the intense activity that he plans to develop throughout the week in the US capital, within the framework of the Annual Assembly of the organization and the World Bank, as well as the summit of ministers from the G20 and the G24, among other meetings, sources from the Palacio de Hacienda reported.

Negotiations around a new financial program remain hermetic, although the parties are willing to move forward with an agreement that will allow the rescheduling of the payment of the US $ 45 billion debt inherited from the Macri administration.

The FMi team will be led by Julie Kozack and Luis Cubeddu.

Guzmán will also seek to put on the agenda for discussion the possibility of implementing a new scheme of lower interest rates, which Argentina and other developing countries will raise both at the G20 meeting and at the IMF Assembly.

It is about the attempt to remove the interest surcharges that the IMF charges on exceptional loans, such as the one that Argentina requested under the presidency of Mauricio Macri, and that increase the cost of the credit that the country took from the Fund by around US $ 1,000 million annually, according to official estimates.

The Government will insist that these flight attendants be reviewed at this IMF summit, which already has the approval of the G-20, and has the support of an international community of heterodox economists, including Nobel laureate Joseph Stiglitz and the Columbia professor, Jeffrey Sachs.

On Tuesday morning, the IMF – through its chief economist, Gita Gopinath – will release the traditional report on world growth prospects (WEO), which continue to be clouded by the evolution and outbreaks of the pandemic.

While on Wednesday the 13th, the fourth summit of finance ministers and central bank presidents of the G20 will also take place in Washington under the Italian presidency, which will discuss issues of interest to Argentina, before the Fund’s annual Assembly.

Source: Télam

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