Saturday , July 2 2022

Third IMF payment: more money, more conditions


After the second review of the economic evolution of the 36 month IMF loan, the third discount of money was approved. In total, US $ 28,090 million of a total total was more than $ 56 billion already achieved.

The agency established a set of conditions to grant the loan, the most associated with reducing the financial deficit and financial measures, mainly Central Bank intervention is not in the market.

The government has been meeting the conditions and The 2019 Budget is a great evidence of this, also the financial policies carried out by Sandleris.

"There are early indications that the economic reform program redesigned by the Argentine authorities, including the new financial policy framework, pays", said Lipton.

In the statement describe the high inflation levels, remember that we will close with the highest inflation in 27 years this year, but they rely on the success of the measures that they intend to slow down the price increase.

As a result, the Fund announced warnings relating to the decline of the economy and poor mood of international markets with Argentina.

In the statement, that estimated economic activity could start "recovering in the second quarter of 2019" and, on the other hand, emphasized "that the budget approval for 2019 with broad political support has helped to reinforce confidence in the economic reform plan and the continuation of policies and authorities ".

In turn, it's recommended that the economy be stabilized there is a need to move forward in structural reforms to stimulate investment and productivity.

On the other hand, he suggested that "it would be important to continue to eliminate taxation stamps, improve labor market regulations, giving the retirement system on a sustainable financial basis and strengthen governance."

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