Argentina prepares delivery to Congress of the agreement with the IMF | News

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The Argentine Government finalizes details for the delivery to Congress, this Thursday, of the Memorandum of Understanding with the International Monetary Fund (IMF) after culminating this Wednesday the negotiations for the debt of 43,000 million dollars inherited from former President Mauricio Macri.


Argentine government will present an agreement with the IMF in Congress

The spokeswoman for the government of Argentina, Gabriela Cerruti, stated during an online press conference that: "We expect a technical understanding with the IMF in the next few hours (...) so that Congress can begin its treatment."

The president of the Chamber of Deputies, Sergio Massa, notified the rest of the deputies that the bill had entered the Lower House, where the debate will begin.

It is expected that the discussion and subsequent approval of the agreement will not exceed March 22, since on that date the Government has to pay a maturity of that debt of 2,800 million dollars.

In this sense, progress will be made in terms of organizing the schedule of the commission that will review the document, the guests and exhibitors, and the attendance of officials, as reported by the Parliament.

In accordance with this, the Government plans to address the document in the Budget Committee from this Friday until next Tuesday, so that the plenary session of the Chamber can discuss it between next Wednesday and Thursday.

In turn, the bill has attached the annexes that include the Memorandum of Economic and Financial Policies, as well as the Memorandum of Technical Understanding.

According to local media, they will be days of encounters and disagreements between the deputies, which constitute the reflection of an increasingly polarized Argentine society.

The agreement reached with the IMF, according to President Alberto Fernández, "is the best agreement that could be achieved."

For its part, the Ministry of Economy, Martín Guzmán, pointed out regarding the negotiating process that "after intense negotiations, the national government managed to close an agreement with the IMF that will allow the country to refinance the commitments assumed in the failed Stand By program of 2018, which presented maturities concentrated mainly in the years 2022 and 2023”.

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