Sergio Massa has assured that he has left Argentina’s position, which has risen to the G20

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After visiting Washington, Minister of Economy St. Serge Massaposted a Twitter thread this Saturday where He assured that he had left Argentina’s position elevated to the G20. In this regard, he said he questioned the “absurd contradiction” between development agencies and the International Monetary Fund (IMF) in reviewing public accounts, pointing to the impact of the war between Russia and Ukraine in the southern hemisphere.

“In front of Kristalina Georgieva, David Malpass and all G20 ministers We leave Argentina on a high note”Massa began his post by highlighting some key observations made at the Intergovernmental Forum.

“The war cost a very high price for the countries of the Southern HemisphereIt has already cost Argentina 5,000 million dollars, and there is no global environment where this issue is discussed,” he continued, adding. “We warn of the need to review the role of development agencies In the context of the food and energy crisis, in particular, on transitional energies such as gas.

Finally he said:And we have also raised the absurd contradiction between development agencies and the IMF in reviewing public accounts. While some view giving as an investment, others view it as a fiscal deficit.

The post included a Video mass exhibition in the Development Committee of the World Bank.

in statements TelamThis was announced by official sources of the team The apparent objection raised by Masa would have Georgieva and other G20 membersAnd he is expected to have some feedback at the next summit of presidents in Bali, Indonesia. In this sense, they indicated that if they move forward with any kind of initiative, they will seek a multilateral solution and one at the bilateral level, so as not to limit the discussion only to the case of Argentina.

The above counterpoint comes against the backdrop of the downbeat world forecasts revealed in the World Economic Outlook (WEO), which was expected to At least a third of the countries will go into recession and that A new country’s debt crisis is approaching As a reaction to the Covid pandemic, the global fragmentation of trade and the war in Ukraine.

“It is time for the Fund and the rest of the G20 countries (and therefore the International Monetary Fund) to decide what measures they will take and how they will pay the countries that receive credit from the organizations.”said Massa while talking to journalists.

Before the presentation in the Development Committee, the Minister of Economy obtained New IDB approval 700 million dollar loan for ArgentinaThat would allow the government to shore up reserves amid strained efforts by the ruling party to avoid a sharp devaluation and economic downturn.

The IDB statement said that the new credit “It will promote macroeconomic stability and strengthen state finances”and will offer budgetary support to cover Argentina’s short-term financing needs and to protect social spending on vulnerable groups and infrastructure, while “reforms will be implemented to reduce public deficits, promote price stability and ensure debt sustainability.”

The new IDB financing approved by the agency’s executive board is Corresponds to the objectives of the program with the International Monetary FundTo which will also be added financial assistance from the World Bank.

While in Washington, Mass He also managed to sign a contract in principle with the Paris club. In that regard, he noted that “the deal is almost closed” and at the end of the month he will leave to renegotiate new terms on some $2,400 million in debt, which pays an annual interest rate of 9%, and which Argentina is seeking to reduce, in addition to shortening the term.