Sunday, September 24, 2023

Sergio Massa travels to the US and meets with Kristalina Georgieva

Argentine Economy Minister and Union for the Fatherland presidential candidate will meet with Brian Nichols, Joe Biden’s administration official in charge of Latin American affairs, on a day when the main activity will be meeting Georgieva.

At the meetings, Massa will be accompanied by the ministry’s chief adviser, Leonardo Macdur, head of the ministry’s legal and administrative secretariat. Ricardo Casal and the director of INDEC, Marco Lavagna.

Massa’s full schedule in the United States:

Tuesday, August 22:

  • Meet with Anna Bjerde, Managing Director of the World Bank.
  • Meet with Ilan Goldfjn, IDB President.
  • Meet Jay Shambaugh and Michael Kaplan of the US Treasury Department.

Dinner with US officials

Wednesday, August 23:

  • Meet with Brian Nichols, a government official under Joe Biden for Latin American affairs.
  • Meet with Kristalina Georgieva.

Massa’s unexpected trip became known last Thursday The IMF contacted La Libertad Avanza presidential candidate and PASO winner Javier Milei.

The agency also got in touch with Luciano Laspina, the main economic reference for the presidential candidate of Together for Change (JxC), Patricia Bullrich.

The board of directors of the multilateral credit organization will meet next Wednesday to agree on a $7.5 billion payout for Argentina.

Massa’s trip comes after the central bank (BCRA) ordered a devaluation and hike in interest rates and took action requested by the agency to halt the dollar’s sharp escalation.

Sergio Massa Travels To The Us And Meets With Kristalina Georgieva

Monetary and economic policy decisions were approved by Julie Kozack, IMF Communications Director, who said, “We appreciate the authorities’ recent policy actions and commitment to maintaining stability, rebuilding reserves, and strengthening financial governance.”

In the last week of July, Argentine authorities and IMF technicians reached an agreement on this fifth and sixth revision under the Argentina Fund’s Extended Services Agreement, which implies the completion of disbursements to strengthen central bank reserves.

He The minister had expected days ago that the target would be payouts of just over $10 billionto further strengthen the reserve position.

One of the Fund’s proposals in the negotiations was accurate reduce the currency gapand immediately after the elections Economía decided to change the exchange rate policy.

On July 28, technical staff at the government and IMF level agreed on the fifth and sixth reviews under Argentina’s 30-month Extended Facility Agreement (EFF).

He The new agreement took into account the effects of the drought and in particular there was a significant relaxation of the reserve targetsas requirements increased from $8,000 million in net accumulation to $1,000 million for all of 2023.

World Nation News Desk
World Nation News Desk
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