Today, Argentina’s representative to the International Monetary Fund, Sergio Chodos, referred to the negotiations between the country and the organization through radio statements, in which he said: “We continue to progress in important stages, within a scheme that serves Argentina”.
“We are not setting a specific agenda; we continue to progress in important stages and in the areas of agreements; we are on the path of construction step by step; and the sooner the better, within a scheme that serves Argentina,” Chodos said.
Guzman returned this week to the country from last weekend’s tour of Italy, in the framework of the Group of Twenty, where he met separately with the head of the International Monetary Fund, Kristalina Georgieva, and the head of the US Treasury, Janet Yellen.
Chodos confirmed by AM 750 that “Argentina’s unsustainable debt level is evident” so it has to reach “a new program with the IMF to pay what is owed to the 2018 program that was clearly unsustainable”.
So Chodos referred to the agreement with the Foreign MinisterI’m “being built in phases” And according to the agreement “You will need a level of internal and external discussion and review”, will pass through the National Congress.
Regarding the G20 summit, he noted that “we had a valuable result of understanding Argentina; what are its borders, where are we, where are we heading and the need to reach an agreement that responds to the interests of Argentines. Is it also sustainable for creditors?”
“It is another milestone to reach the end of the restructuring with the International Monetary Fund within the framework of a global discussion on the Special Drawing Rights, the environmental agenda, the problem of large corporations and how to reach a more fair global tax structure,” he said.
According to Chodos, “The notion that Argentina should expand its investments and exports in order to get out of the crisis is quite evident when one looks at it systematically.”
Argentina must return the money it lent in 2018-2019 to the International Monetary Fund in the next three years. It is known that he does not have enough money and that the United States is the main contributor to the International Monetary Fund. Hence the importance of the support that Guzmán gets from the Treasury to close an agreement.