O Minister of Economy of Argentina, Luis Caputoconfirmed on Thursday (27) that the agreement that the country is negotiating with the International Monetary Fund (IMF) will have the value of US $ 20 billion. This is the first time that it formally stipulates a value in the program, a long time ago in suspended.
Speaking of a conference in Buenos Aires, Caputo said she asked the IMF director-manager Kristalina Georgieva, the day before, her permission to announce the number due to market turbulence in recent weeks. “The amount we woke up with the team (from the IMF) – and that, ultimately, the board will decide whether or not it will be approved – is $ 20 billion,” said Caputo.
He added that he expects the IMF board to meet in the coming weeks to vote for the loan agreement. Just days ago, President Javier Milei said he expected the signing of the agreement to mid -April.
In addition to the value of the deal in negotiation, the country is also seeking to complete the liquidity mattress that can serve to calm the markets. According to the minister, they are negotiating with organisms such as the World Bank, the IDB and the Latin America Development Bank (CAF) agreements that can reach $ 25 billion to help strengthen the Central Bank reserves.
Although it is inevitable that the IMF ask adjustments to the country’s currency policy, the minister said there will be no requirement to devalue weight. Market speculation spoke of a devaluation of up to 30% on the way.
(Com Reuters)
