President Alberto Fernandez confirmed today that the Joseph Biden government should support Argentina’s proposal to refinance its debt with the International Monetary Fund (IMF) Because his profile is “Kinsey” and indicated that he is “optimistic” about next week’s meetings.
Everyone knows that Argentina is strictly prohibited from facing these payments. Seriously, no one in the world believes that Argentina can pay 19 thousand million dollars between capital and interest (in 2022), the head of state said in an interview with Buenos Aires Radio AM 750. Fernandez said he was “optimistic” about meeting Foreign Minister Santiago Cafiero Next week with US Secretary of State, Anthony Blinken. “I try to have good expectations and I hope the meeting makes sense and pays off,” he added.
President Avoid talking about the possibility of default with the IMF He noted that he was doing everything in his power to try to reach an agreement that “does not delay the Argentines any longer.”
He considered it necessary to continue talking and Trying to find a solution with the box. He noted that the International Monetary Fund had just released a report evaluating the program it signed with the government of Mauricio Macri in 2018. “It’s a very unqualified opinion,” he said.
It was basically pointed out The fund itself acknowledges that debt should have been restructured with private creditors in 2018 And that there should have been regulations to prevent “unbridled currency flight and none of that happened. The fund says so.”
So the president indicated, The government says the fund bears a share of the responsibility for what happened to Argentina. “And it seems to me that in addition to the responsibility of each individual, it is necessary to bear in mind that in addition to giving technically unspeakable credit, a pandemic has arisen. For this reason, Argentina cannot make more demands than Argentina can make.”
Fernandez said that “real discussion” That Economy Minister, Martin Guzman, with the IMF about How should the country’s economic program be. “If so as we propose to continue to arrange the economy but to make it grow with the idea that with growth we will be able to make the payments. Or to go back again to the eternal prescription of the Fund which says that the economy must be adjusted to reduce activity so that we have to import less, so that there is Dollars we pay. The truth is that we are not with that. That is the reason for the postponement of the discussion.
He added: “We think the concept has to be changed. The fund, in its articles of association, says it will analyze the program proposed by the state. But the truth is, what the Fund is trying to do is force a program on us. We do not agree. We continue in the best way, but we are determined to find a way out that suits Argentina.”
Fernandez He commented that the United States, so far, “does not have a clear position” on the Argentine programme Because the program was not submitted to the IMF board “completely”.
So I don’t know what the United States will do. What I know is that it is. The loan Argentina took in 2018 was entirely political, with the sole aim of supporting Macri in a collapsing government and a nearly bankrupt economy.”
December 7 last, The Biden government has sent a signal to Argentina about its mission to refinance debt with the fund. He said he wanted a “sustainable” agreement that needed “solid and reasonable foundations”, built on the real possibilities that Argentina would have to repay its debts in the future.
Responsible for expressing the position is Juan Gonzalez, Director of Western Hemisphere Affairs at the US National Security Council. He is Biden’s official who has been asked to design US policy for Latin America.
“Think The United States is cautious. So far he hasn’t said much on this subject. Except for Gonzalez, who a few days ago had some statements in which he asked the fund to break out of the dogma and analyze the Argentine situation in a different way. “But I don’t know yet, there is more speculation about the US than is known,” Fernandez said.
In this sense, the President added, if one also takes into account what the United States is doing internally today, “It should really accompany our proposal because today it implements Keynes’ plan Big size. Therefore, they should accompany our stance.”
Fernandez stressed that he remains confident that the fund will deal in March with the reduction or elimination of additional interest charges that it imposes on countries for their credits, Following the request expressed by the G-20, this discussion was postponed in December.
“The issue of the surcharges is not just for Argentina and it overrides us. It seems to me that there is a debate within the Democratic Party about how to deal with this situation. Thirteen deputies have called on the Treasury to ask the IMF to reconsider this. I have good expectations there.
Buenos Aires reporter
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