The United States Secretary of the United States, Scott Betting, He again manifested the support of the White House to the economic plan of Javier Milei and said that “It is making real advances”.
“Argentina It’s a good example. I was in Argentina earlier this month to demonstrate US support for IMF efforts to help the country restructure financially. Argentina deserves the support of the IMF because it is making real advances in the fulfillment of the financial parameters, ”said the official.
“when they are carried out responsible, IMF loans are fundamental to their contribution to the world economy: when markets fail, the IMF intervenes and facilitates resources. In return, countries implement economic reforms to solve their balance of payments and boost economic growth and boost economic growth. The reforms undertaken during these programs are some of the most important contributions of the IMF to a solid, sustainable and balanced world economy,” he said in An event organized by LEL International Finance Institute (IIF).
“But Not all countries deserve it. The IMF must demand responsibilities to countries for the implementation of economic reforms. And sometimes the IMF should say no. The organization does not have the obligation to provide countries that do not implement reforms. Economic stability and growth should be the indicators of the IMF success, not the amount of money provided by the institution, ”he concluded.
This Tuesday, Besent had secured to investors that the White House could give the Argentine government a direct credit line in case there was an international shock. “If Argentina needs it, in case of an external shock and if Milei keeps the course, We would be willing to use the FSE”Besent said in reference to the United States Treasury Exchange Stabilization Fund.
Last Monday Besent had a lightning visit for Buenos Aires in which he had meetings with President Javier Milei and Economy Minister Luis Caputo, plus a lunch with private sector executives. Besent had words of support to the economic plan of the libertarian government, and his scale for the country was coinciding with the implementation of the new phase of the economic program and after the announcement of the agreement with the IMF.
In those hours, in an interview with Bloombergthe US Treasury Secretary had been more ambiguous about the possibility of granting a direct loan to Argentina. “At the end of the day, we also have the exchange stabilization background. We have not committed ourselves to be part of it, but we could do it,” said Besent.
“The reason for my presence today is that it is a key day. The Milei government has implemented three adjustments, and this marks the beginning of the third. They implemented a significant fiscal adjustment, an important monetary adjustment and on Friday they announced a significant exchange adjustment. The IMF has assigned 20 billion dollars. The World Bank has assigned them 12 billion dollars, and wanted to come today to show my support for President Milei and his commitment to what I To rescue Argentina from the abyss, ”said Besent.
Regarding the coin swap between the Central Bank of the Argentine Republic and the Popular Bank of China, Besent said: “They have a credit swap of 18,000 million dollars in yuan. Argentina, under the previous Peronist government, obtained 5,000 million dollars, and that amount will remain pending. The Chinese showed a great effort after the announcement, or in conjunction with that of the IMF, so it will extend a year. Your inflexible economic policy should eventually have enough currency entries to pay it”He said.
After the meeting with Milei, from the treasure they said that “during the meeting, Secretary Besent reaffirmed the full support of the United States to the bold economic reforms of President Milei and praised him for the prompt action of his government to reduce the barriers to reciprocal trade,” said the US body. In addition, he congratulated him “for the recent and successful negotiations of Argentina with the International Monetary Fund (IMF)” and reiterated the confidence of the Republican Administration “to continue promoting the positive economic impulse of Argentina.”
