IMF back in town

The International Monetary Fund (IMF) sent out an advance mission on the first week of February within the framework of its fourth quarterly review of the refinancing agreement reached early this year, prior to a fresh remittance of US$5.4 billion. The mission, which will be crunching the numbers of the last quarter of 2022 when the objectives defined for that period were apparently met, will be followed by a return visti of Argentine authorities to Washington towards the end of February. The IMF officials in town were set to meet up with the team of Economy Minister, Sergio Massa, although no necessarily the Minister himself. This year’s targets include reducing the fiscal deficit from the current 2.5 percent of the gross domestic product to 1.9 percent and ending this year with US$9.8 billion more in Central Banl reserves than at the end of 2021, an objective complicated by the drought.