The International Monetary Fund (IMF) is preparing for its first face-to-face meeting with the government of Argentine President Javier Milei, with the aim of supporting ongoing efforts to “reestablish macroeconomic stability”, they said this Wednesday (3) sources of the financial organization.
These sources confirmed that an IMF delegation will travel tomorrow, Thursday, to Argentina with the aim of renegotiating the agreement on a total debt that reaches around US$46 billion (R$226 billion at current exchange rates), as had been anticipated on Tuesday by Argentina's presidential spokesman, Manuel Adorni.
The IMF delegation will be led by the deputy director of the Fund's department in charge of Latin America, Luis Cubeddu, and by the head of the Argentine mission, Ashvin Ahuja, the sources detailed.
These IMF representatives will be received by Nicolás Posse, Milei's chief of staff, and the Minister of Economy, Luis Caputo, in what will be the first face-to-face meeting between both parties since the new Argentine president took office on December 10.
A team close to Milei already met with IMF representatives when he traveled to Washington, on November 28, after his election as president, but it was still a transition period, so much so that the leader of the right-wing front A Liberdade Avança did not participate in that meeting.
The expectation is that the Argentine government's objective at this week's meeting is to postpone the first payments of this year, which are due on January 9th, and total US$ 1.3 billion (R$ 6.39 billion), and on the 16th of this month, worth over US$650 million (R$3.2 billion).
One of the measures, already foreseen by the international organization, is for Argentina to unify payments; and this is only possible when there is more than one due date in the same period, something that was done in June, July and October last year, during the government of Alberto Fernández (2019-2023).
Amid the December transition, Milei had to resort to a short-term loan from CAF (Development Bank of Latin America) in the amount of US$960 million (R$4.7 billion) to pay the December 21st maturities. .
For now, the IMF has already expressed its support for the measures aimed at fiscal adjustment, cutting public spending and interrupting monetary issuance that the new Argentine government has sought to implement since Milei's arrival.
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