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The Republic of Argentina formally begins consultations for a new Program with the International Monetary Fund

President Alberto Fernández maintained a telephone communication this morning with the managing director of the organization, Kristalina Georgieva, in which the Minister of Economy, Martín Guzmán, and the Argentine representative before the International Monetary Fund, Sergio Chodos also participated.

The Republic of Argentina formally began consultations with the International Monetary Fund (IMF) today in order to agree on a new program with the multilateral credit organization, with the central premise that “there is no stabilization possible without economic recovery.”

President Alberto Fernández, together with the Minister of Economy, Martín Guzmán, and the representative of the Southern Cone before the IMF, Sergio Chodos, maintained a dialogue this morning from the Quinta de Olivos (presidential residence) with Kristalina Georgieva, to begin negotiations aimed at reaching a new understanding with the organism.

During the conversation with Georgieva, the President stressed the need for the future Program between Argentina and the IMF to observe the goals of economic recovery and of solving the most pressing social problems.

After the meeting in Olivos, Guzmán and Chodos went to the Palacio de Hacienda (Ministry of Economy building) to sign, together with the head of the Central Bank, Miguel Pesce, a letter addressed to the managing director of the IMF formally beginning the dialogue.

After sending the letter, Guzmán emphasized: “Stabilization is not possible without economic recovery.”

For his part, Pesce highlinghted that “it is necessary that the next program takes into account both stability and the growth of the economy, credit and the local capital market.”




letter part 1 (jpg)


letter part 2 (jpg)


Letter of request to initiate consultations towards a new Fund-supported program (pdf)


Stand by Arragement Cancelation (pdf)