A delegation from the International Monetary Fund (IMF) will arrive in Buenos Aires on Monday to analyze the state of the national government accounts and enable new disbursements of credits, informed official sources. The mission of the IMF will be headed by Roberto Cardarelli, the person in charge of the “Argentine case”.
As is routine in these cases, the delegation of the Fund will meet with the Minister of Finance, Nicolás Dujovne, and the President of the Central Bank, Guido Sandleris.
This will be the second revision of the stand-by agreement for US $ fifty six.300 million agreed in October, after the agreement agreed in June could not be fulfilled. The first version of the agreement established for 2019 a fiscal deficit of 1.3% of GDP. But the government made a commitment in October to achieve fiscal balance this year, anticipating the target set for 2020.
2018 would have ended with a deficit of 2.3% of GDP, a result that was approved by the IMF. If the IMF approves the numbers of the national government, it will release in March an outlay of about US $ 7,000 million, which will be used to repay debts.
The Government will show the route of the monetary aggregates scheme implemented since October 2018, which aims to regulate inflation and over-fulfillment of the agreed monetary goal. Last week the Central acquired US $ 275 million in daily auctions, while the Leliq rate accumulated drops of 620 basis points to 46.24% in the same period.
Daily Source of Cuyo
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