May 31, 2023

East Valley Times

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Alberto Fernandez meets Cristalina Georgieva at the G20 summit in Rome.

Alberto Fernandez and Kristalina Georgieva during their last meeting in Rome

Rome applies to both. For the second time in almost six months in a row, Alberto Fernandez and Cristalina Giorgio will meet in the Italian capital to discuss foreign debt negotiations. A political, economic and financial fact that will provoke strong internal debates in Frente de Todos and complicate Argentina’s geopolitical agenda with the most powerful nations of the International Monetary Fund (IMF).

The meeting with Georgia will take place during the G20 talks in Rome and will be accompanied by Alberto Fernandez, Foreign Minister Santiago Kafiro and Economy Minister Martin Guzmn.

The president is proposing to reduce the capital of the $ 44,000 million loan that Mauricio Macri contracted when he occupied Gaza Rosada, with additional fees, longer funding periods and capital reduction. The IMF Board – made up of powerful countries such as the United States, Germany and Japan – does not approve of this plan and demands a sustainable economic plan for the next four years.

Alberto Fernandez will insist with his maximum proposal before Georgia, but after his affair with China the managing director lost weight at the White House and the Treasury Secretariat.. The managing director promised to expedite the reduction of surcharges on debt – about $ 1 billion a year – but that commitment turned into a dormant letter.

Argentina has no chance of getting a drop in the percentage of surcharges by 2021, As expected by the President and his Economy Minister. At this point, the IMF board is not flexible and there is no turning point.

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In Washington, they explained that reducing tariffs was another aspect of the talks and that Argentina should present a sustainable economic plan at the first event. The content of this plan provokes strong internal debate in the ruling coalition, which will only be resolved once the November election results are known.

It is no secret that the government will lose the assembly elections. And in this context, the question arises as to the internal political implications of the defeat against the combined competition for change. The internal consequences of the election could affect the economic plan that Guzman has already discussed with the IMF, and in DC they have decided to wait until everything falls into the Balkars 50.

Kristalina Georgieva and Martin Guzman during their last meeting in Washington
Kristalina Georgieva and Martin Guzman during their last meeting in Washington

Except for flight attendants Alberto Fernandez will tell Georgia that Argentina needs an extended period of time to repay the capital debt. Would like to join any other IMF initiative that will help the public balance situation. By 2022, the country will have to pay $ 18,000 million, and these goods will no longer be in the central bank.

The International Monetary Fund is ready to provide an extended facility loanBut in return it demands an economic plan with open political support in Congress. That support is not in the conjunction, and it is very difficult for that to happen in the coming weeks.

Rejects Together for Change, the price control strategy, the official status of Mappuchin and the official plan used to counter Govt-19. From this point of view, the possibility of a political agreement to facilitate negotiations with the IMF, along with a possible electoral victory, is very complex.

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Alberto Fernandez established a fluid relationship with Georgia. And betting on their geopolitical understanding to make progress in negotiations. The executive director understands the needs of the Argentine president, but the room for his maneuver has shrunk considerably. And when it comes to Argentina: in Washington, they don’t understand why Guzman is setting it up. Possible condition Credit at booked meetings and thereafter Blames the IMF When he poses in front of Kirschner fighters at CCK.