The board of the International Monetary Fund (IMF) will analyze today in Washington the approval of the agreement reached by the agency’s staff with Argentina, with the aim of refinancing the debt of 45,000 million dollars.

Everything indicates that the IMF board will endorse the understanding reached between both parties, after parliamentary approval of the bill sent by the Executive Power.

Last Tuesday, the head of the Fund, Kristalina Georgieva, held a zoom meeting with President Alberto Fernández and with the Minister of Economy, Martín Guzmán.

The approval of the board of directors will make it possible to make a first disbursement of 9,800 million dollars immediately, which will serve to pay short-term maturities and, also, to strengthen the reserves of the Central Bank.

The IMF extended until Thursday, March 31, the term for Argentina to pay the interest and capital that were originally due on Monday the 21st and Tuesday the 22nd, for a total amount of close to 2,800 million dollars.

This Friday’s meeting was announced days ago by the body’s spokesman Gerry Rice in a press release. “To give time to contemplate the rapid changes in world events, including the war in Ukraine, the Executive Board of the IMF will meet to discuss Argentina’s request for a Fund-supported program on Friday, March 25,” he said.

Source: NA