Sunday, February 25, 2024

The IMF asked Javier Milei for a strong stabilization plan with political support

The IMF and the teams of Javier Milei had their first meeting last week in Washington, with the Luis Caputo y Nicolas Posse representing the new government, and Argentine officials explained in general terms what economic plan which they will seek to implement from December 11.

In this context, the spokesperson of the organization assures that in recent days the meetings have continued almost with the new economic group, and considers that “it is fair to say that this time we are focused on a league -on, credible and politically supported stabilization plan to address. Argentina’s macroeconomic imbalances” and that “Inflation is one of the imbalances and needs a strong and reliable Central Bank to reduce“.

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The Imf Asked Javier Milei For A Strong Stabilization Plan With Political Support

The spokesperson, who thinks that the economic situation in Argentina is “challenging and very complex,” refers to the virtual meeting recently held by the executive director of the Monetary Fund, Kristalina Georgieva, and Milei.

Officer Milei continued “His commitment to strengthening public finances, reducing inflation and creating a more prosperous, private sector-led economy is emphasized.”. In that meeting, of course, they also discussed “the important challenges facing Argentina and the need for decisive political action. “

He added: “The managing director, of course, told him that the IMF is committed to supporting efforts to sustainably reduce inflation, improve public finances, and the private sector will lead growth.”

Finally, the official of the Monetary Fund assured that this stabilization plan must have “political support” to implement. It should be noted that LA Libertad Avanza has a minority in both chambers of Congress, and in the absence of party governors or mayors, the bloc must permanently seek agreements with parliament.

World Nation News Desk
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