The government is negotiating loans with Russia and Saudi Arabia to increase reserves

Spurred on by the decline in reserves at a crucial point in the negotiations with the International Monetary Fund (IMF) the government wants to agree a loan of US $ 6.5 billion with a Russian-Saudi fundto inflate the central bank’s coffers and relieve the dollar.

The proposal is part of the negotiations the Foreign Minister started this week Santiago Café and the President of the Chamber of Deputies, Sergio Massa, with the Foreign Minister of Saudi Arabia, Faisal al Saudand that they would have a second round next week with a delegation from these countries.

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The dollar shortage in the Central leads the government to look for alternative financing. During the reign of Cristina Kirchner, the option was to swap with China. During these hours, progress is made on a technically different proposal.

As indicated by the portal The nation, the 6.5 billion US dollars would be brought in in two tranches within three years against central bank bonds and illiquid holdings.

The government aims to conclude the agreement with the IMF before the end of the year

While Cafiero and Massa press ahead with negotiations with the Russian-Saudi fund, the Minister of Economic Affairs will Martin Guzman, aims to finalize the terms of the agreement with the IMF before the end of 2021.

government registered injury time to close that approvaltrying to reschedule the $ 44,000 million debt it owes with this multilateral credit organization. Occurs at times when the reserves International central bank accounts are located under due dates which the country has to face by March according to various economists.

Also read: The government is trying to accelerate the agreement with the IMF: terms until March exceed available reserves

the conversations with the technical staff they accelerated and you have a 20 day window before the break for the end-of-year celebrations in the fund. Before Christmas it is estimated the board meets of the organism.

Not only in this case the fate of the agreement can be determined with the country, but the agency will also analyze the local request collected by the G20 to review the surcharges for countries like Argentina.

For him December 22, now goes out second installment of the loan amount, for approx. $ 1900 million, which the government promised to pay with the “pandemic funds” issued by the IMF in August last year.

The wink of Cristina Kirchner and the support of the Pope strengthen Martín Guzmán’s position

Amid negotiations between the government and the IMF for debt rescheduling, Cristina Kirchner posted a detailed letter to address the problem. “It is the head of executive power who conducts the negotiations in the it is constitutional responsibility in this matter“Said the vice-president amid criticism of the media and the opposition.

In addition, he stressed that it is under the law to strengthen the sustainability of public debt Congress, which then has to approve the eventual agreement and assures that “Nobody talks about ignoring debt.” In the past few hours, Mauricio Macri and Elisa Carrió had urged the government to “honor Argentina’s debts”.

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A few days before Guzman had been referred to by the Pope Francisco as a member of Pontifical Academy of Social Sciences of the Vatican.

For the head of the Palacio de Hacienda, his connection with Francisco is of strategic importance in light of Argentina’s negotiations with the IMF. So much so that after each of his meetings the Pope made declarations for a “substantial reduction in the debts of the impoverished countries”.

Also read: Dollars Today: How much the official and other exchange options were quoted on Monday, November 29th

Both situations are interpreted by the government as confirmation of the negotiations that Guzmán is holding with the fund, which could enter their final phase in the last month of the year.

Disclaimer: This article is generated from the feed and is not edited by our team.

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