"Argentina has shown that this time is different," said Kristalina Georgieva during the press conference she held before journalists from around the world covering the IMF spring meetings.
Javier Milei's government official received explicit support from both
"Argentina has shown that this time is different," said Kristalina Georgieva during the press conference she held before journalists from around the world covering the IMF spring meetings.
The Minister of Economy, Luis "Toto" Caputo, received the support of two key figures who, throughout the entire IMF spring meeting, interacted with a certain diplomacy: Kristalina Georgieva, the managing director of the organization, and Scott Bessent, the Secretary of the Treasury.
Bessent, an official of Donald Trump, criticized the International Monetary Fund's (IMF) approach regarding financial support to countries that do not implement their own spending adjustments, while Georgieva used her public interventions to defend the Fund's actions and contradict the secretary's statements.
In the midst of this debate about the IMF's future, where Bessent and Georgieva exchanged views from a distance, Caputo received explicit support from both, without diplomatic reservations.
"Argentina is a good example. I was in Argentina earlier this month to demonstrate the United States' support for the IMF's efforts to help the country financially restructure. Argentina deserves the IMF's support because it is making real progress in meeting financial parameters," stated the Secretary of the Treasury at the Institute of International Finance (IIF) in Washington.
She added: "This time there is determination to set the economy on a solid path. It has moved from a high deficit to a surplus, from double-digit inflation to a figure that in February dropped below 3%; from poverty above 50% to a current level of around 37%. It remains very high, but it is decreasing. The state is withdrawing from where it shouldn't be, to allow greater dynamism in the private sector."
The geopolitical support that Minister Caputo receives, partly derived from the personal and ideological affinity between Javier Milei and Donald Trump, relegated to the background the requirement to achieve the Central Bank's reserve accumulation target, scheduled for June under the current Extended Fund Facility program.
The reserve accumulation target of 4 billion dollars will be reached during 2025, while a member of the IMF board assured that "everything will proceed smoothly."