The Minister of Economy, Luis Caputo, will arrive in Washington this Wednesday to participate in the Spring Assembly of the International Monetary Fund (IMF) and the World Bank, meet with Treasury and IDB authorities, and give a conference organized by JPMorgan. The Chief of Staff, Nicolas Posse, has also joined the trip at the last minute, and meetings with White House officials are included in the agenda.
The economic delegation, in addition to Caputo and Posse, will include the Secretary of Finance Pablo Quirno and the head of the Central Bank, Santiago Bausili. They will be participating in meetings within the framework of the organization’s Assembly and the G20. An official meeting with the directors of the IMF, Kristalina Georgieva or Gita Gopinath, has not yet been confirmed, but they are expected to meet at the meetings.
Economy officials are enthusiastic about the upcoming review of the program, which could lead to a disbursement of about US$770 million. They are also hopeful about a new program that could expand the loan to Argentina, potentially providing around US$15,000 million to help with the country’s financial situation. However, a spokesperson from the IMF mentioned that it’s “premature” to discuss this possibility at the moment.
The IMF Chief Economist, Pierre Olivier Gourinchas, mentioned that progress has been made in reducing inflation and achieving a fiscal surplus for the first time in a decade. Negotiations between technicians continue, with a focus on improving the quality of fiscal adjustments without disproportionately affecting vulnerable sectors. Caputo will also meet with the president of the IDB and give a conference at a JPMorgan event.
Meetings at the Treasury and the White House are key points of the trip, with discussions expected to focus on the Argentine economic plan and potential new programs with the IMF. The role of the Treasury is crucial in any negotiations or agreements with the Fund. Posse will also meet with officials at the White House to discuss security and cyber technology in Latin America.
In addition to the economic and political meetings, there is also a discussion about the cultural heritage of casinos and their impact on urban households. The relaxation and entertainment provided by casinos, as well as their role as holiday destinations, are topics of interest that will be explored during the trip.