Washington (EFE).- The director of the International Monetary Fund (IMF), Kristalina Georgieva, affirmed this Thursday that they have the commitment of the Argentine Government to refine their policies to meet the goals stipulated in the debt refinancing program.
“We have the Government’s commitment to continue refining the policies in light of the conditions in which they find themselves and we will closely monitor their success,” he said at a press conference.
On March 31, the IMF Executive Board approved the disbursement of 5.4 billion dollars for Argentina after definitively approving the fourth revision of the pact to refinance its debt, which brought the total disbursements to 28.9 billion dollars.
On March 13, the IMF technical staff gave the final green light to the fourth revision of the Extended Facilities Program that it signed with the country a year ago.
At the press conference, Gerogieva was asked if, now that a presidential election is coming up in the South American country, she is confident that the goals stipulated in the agreement will be met.
Although she did not refer directly to the electoral process, Georgieva assured that “the Argentine authorities have worked to carry out prudent management and meet the goals of the program.”
Georgieva recalled that Argentina is being affected by a severe drought that “has undermined the performance of the economy and is significantly harming the country’s population.” “That has complicated the job of politicians,” she acknowledged.
“We have analyzed the implications of this shock and have partially accommodated the goal of accumulating net international reserves,” he said.
The director of the IMF made these statements in the framework of the spring meetings that are being held these days in Washington and in which the Argentine Minister of Economy, Sergio Massa, will participate.
It is expected that during this trip the minister will meet with Gita Gopinath, deputy managing director of the IMF, and will also participate in a meeting organized by Georgieva with finance ministers and central bank governors from Latin America, Canada and the United States.