IMF Staff Statement on Argentina

IMF News, November 20, 2020

Source details

Press Release No. 20/352
Date: November 20, 2020
Location: Washington D.C
IMF team visit: "An International Monetary Fund (IMF) team, led by Julie Kozack, Deputy Director of the Western Hemisphere Department, and Luis Cubeddu, mission chief for Argentina, visited Buenos Aires from November 10 to 20, 2020 to begin formal discussions with the Argentine authorities regarding a new IMF-supported program to underpin their economic plans."
Closing line from mission leaders: “The team would like to thank the authorities for their support during our visit, and looks forward to our continued productive engagement in the period ahead.”

Authorities’ stated intention: to request an Extended Fund Facility (EFF) arrangement.
Staff and authorities began "delineating the contours of an IMF-supported program that could back the government’s plans to address the country’s deep economic and social challenges, which have been aggravated by the COVID-19 pandemic."
Progress and next steps:
- "Good progress has been made in defining the initial elements of such a program, and further discussions are expected to continue virtually between the teams over the coming weeks."
Agreed policy priorities (shared view):
- "tackling Argentina’s near and medium-term challenges will require a carefully balanced set of policies that fosters stability, restores confidence, protects Argentina’s most vulnerable, and sets the basis for sustainable and inclusive growth."

IMF staff met with:
- Minister of Economy Martín Guzmán
- President of the Central Bank, Miguel Pesce
- Minister of Productive Development Matías Kulfas
- Minister of Social Development Daniel Arroyo
- Minister of Defense Agustín Rossi
- Minister of the Interior Wado de Pedro
- Minister of Labor Claudio Moroni
- Minister of Public Works Gabriel Katopodis
- Minister of Security Sabrina Frederic
- Minister of the Environment Juan Cabandié
Additional engagement:
- Meetings with Deputy Chief of Staff Cecília Todesca and other senior public officials
- Meeting with the President of the National Congress Sergio Massa
- Participation by the IMF Executive Director for Argentina, Sergio Chodos
- Meetings with provincial government officials, representatives of academia, civil society organizations, and the private sector

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IMF Staff Statement on Argentina, November 20, 2020.