Martín Guzmán IMF Kristalina Georgieva g_20211013

The Minister of Economy, Martin Guzman, held this Tuesday, October 12, a meeting in Washington with the ratified holder of the FMI, Kristalina Georgieva, while the Argentine Government estimates that only in 2022 there will be an agreement to renegotiate the debt. The official also met with David Lipton, the main advisor to the secretary of the American treasure, Janet Yellen.

“Valuable meeting with the managing director of the IMF @KGeorgieva to advance in solving the unsustainable debt with the agency, “said the minister through his account on the social network Twitter. “We hope that his leadership will continue to take steps that change the ethos of the IMF, leaving behind that shaped by the global financial power that contributed to a more unequal and insecure world for another that favors a sustainable development of the peoples. We will continue to help this, “added the head of the Palacio de Hacienda.

He also had a meeting with Andy Baukol, who was Acting Secretary of the Treasury before Yellen’s arrival and is considered a heavyweight in the world of North American finance. The meetings were held within the framework of the Annual Meeting of the IMF and the World Bank.

Martín Guzmán’s meeting with the head of the IMF, Kristalina Georgieva.

Guzmán breathed a sigh of relief after Georgieva was ratified as head of the body despite the accusations of having favored China in the elaboration of a ranking when she was a senior manager of the World Bank. They both maintain a very good relationship and have gone a good part of the way trying to reach an agreement.

Guzmán ratified the need for the IMF eliminates surcharges that apply to Argentina for the record support granted in 2018 to the government of Mauricio Macri. He also highlighted the need to obtain a longer-term refinancing that allows a sustainable recovery of the Argentine economy.

The IMF improved its growth forecasts for the Argentine economy

The Minister of Economy began his activity in Washington on Monday with a working meeting with the IMF staff, in which they discussed technical aspects of the negotiation for debt restructuring. Guzmán thus began a week in which he will hold a series of meetings with officials from the agency and from other countries.

The government of Alberto Fernandez He gave Georgieva his approval for the confirmation of her position at the head of the organization. In addition to Guzmán and the head of the BCRA, Miguel PesceThe Chief of Staff will also be in Washington, Juan Manzur, to confirm the intention to reach an agreement with the Fund in a meeting with investors.

In the meeting with Georgieva also participated Sergio Chodos, Argentine representative at the IMF. Guzmán also plans to meet with the US Treasury team and hold bilateral meetings with G20 peers.

Martín Guzmán IMF Kristalina Georgieva g_20211013
Martín Guzmán spoke to Kristalina Georgieva again and described the debt as “unsustainable”.

The minister also held a meeting with the head of the Finance Ministry of Indonesia, Sri Mulyani Indrawati, who expressed the support of his country to the negotiation of Argentina with the Fund and the discussion in the Executive Board in relation to the surcharges in the loans of the organization.

During the meeting, the head of the Palacio de Hacienda and the Indonesian official also worked on issues of mutual interest, especially for emerging countries, with special emphasis on coordinate development financing.

Good news for Guzmán: Georgieva was ratified at the head of the IMF

In particular, they addressed the sustainable development goals to finance climate action that will have an impact on greater equity in the world and poverty reduction, such as the redistribution of Special Drawing Rights (SDR) and the advance of Resilience and Sustainability Fund at the IMF.

The second vice president of the Central Bank, Jorge Carrera; the chief of staff of the Ministry of Economy, Melina Mallamace; and the head of the International Affairs Unit, Maia Colodenco.


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