The government is begging for a new agreement with the Fund to obtain between 10 and 15 billion dollars and strengthen the reserves that the Minister of Economy, Luis Caputo, is raffling off to intervene in the exchange market. For the moment, the IMF has not made any concrete announcements.
Within the framework of the G20 Ministers Meeting The minister met with the United States Treasury Secretary, Janet Yellen, at the event in Rio de Janeiro. He also met with the head of the IMF, Kristalina Georgieva, last Thursday.
According to a statement from the Ministry of Economy, “the Treasury authorities highlighted the importance of the fiscal anchor for the necessary normalization of economic variables. In this regard, the meeting highlighted the rapid and necessary decline in inflation in Argentina, the effort to protect the most vulnerable and the fact that it has twin and financial surpluses without being in default, for the first time in history.” In other words, the Treasury recommended continuing with the fiscal adjustment.
“Yellen congratulated the Minister for the progress of the measures, stressed the importance of continuing this path of policies and guaranteed the support of the United States for this process,” added the ministry statement. Like the Fund, they celebrate the ongoing plundering of Milei, but the organization also demands devaluation, structural reforms, among others, that is, deepening the adjustment against the working people.
Also participating in the meeting were Finance Secretary Pablo Quirno, Central Bank President Santiago Bausili, and his Vice President Vladimir Werning.
On Friday, the economic team also met with Jay Shambaugh, Under Secretary for International Affairs of the U.S. Treasury; Michael Kaplan, Deputy Assistant Secretary for the Western Hemisphere; Trish Pollard, Deputy Assistant Secretary for International Monetary Policy; and Adam Goldsmith, Treasury Attaché for South America.
Caputo and Quirno also met with the President of the World Bank, Ajay Banga, and with Axel van Trotsenburg, senior managing director of the organization.
Towards the end of the afternoon, US Treasury Secretary Janet Yellen announced on her X account (formerly Twitter) “I met with Minister Luis Caputo to discuss Argentina’s progress in terms of disinflation and efforts to support the most vulnerable.” Meanwhile, Caputo thanked him for his support.
The Government is begging for a new agreement with the Fund, which will only lead to a further deterioration in the living conditions of the working class. But there is another way out, the sovereign ignorance of external debt and one break with the IMF would allow the working class to put a stop to the debt drain and achieve a strong currency.
Source: www.laizquierdadiario.com
