IMF: Alberto Will Ask Trump For Help For 2003 Type Agreement

Fernandez now seeks that history, in part, be repeated. The albertismo wants to be taken from the phrase that Trump left via telephone to the new president on Friday of last week, when the US head of state told the Argentine that “I have instructed the IMF to work with you. Feel free to call me. ” Future officials know that they will handle the debt negotiation, that Trump would have no problem pressing the agency to accept terms exogenous to its statutes. In fact, the US president did it with Mauricio Macri in April of this year, by accepting the request of the Argentine so that the IMF accepts that funds from the current Fund loan be released to contain the dollar, something that, on the other hand, in his moment Fernandez openly criticized. But now, with a new political, economic and financial scenario ahead, the idea of ​​the albertistas advisers is to take advantage of Trump's promise to be pressured to approve the payment proposal that will be presented to the IMF. The opportunity to discuss the issue directly will be when, after the assumption of December 10, Alberto Fernández travels to the United States on his first presidential tour of that country. Only Trump's formal invitation remains to finish designing a tour he already has, as this newspaper advanced, two almost closed stops: New York and Houston. The first destination, to speak with private creditors. The second, to convince oil tankers around the world of the benefits of trusting the future proposal to develop the Vaca Muerta project.

For the IMF, Fernández's intention to negotiate a payment plan outside of stand-by current, and without resorting to the discussion of an extended facility, is not a novelty. It was exposed by the president-elect himself when he was still a candidate for the managing director for the Western Hemisphere, Alejandro Werner, on June 27. That day, after openly criticizing the permission that the Fund had given Macri to use part of the IMF dollars to contain (failed) the escape from the dollar, the former chief of staff recalled his negotiating experience in 2003 with Horst Köhler, when the German personally came to Buenos Aires to discuss with Néstor Kirchner, Alberto Fernández and then Minister of Economy Roberto Lavagna the conditions of a new agreement to cash the generalized default of December 2001. Fernández recalled that afternoon as head of Cabinet assured Köhler that the Néstor Kirchner Government would guarantee five years of fiscal surplus, which was then fulfilled. That day he also left a phrase to the visitor: "Our problem is not to comply, which I guarantee with our history, but let us comply."

He then went on to review the first movements in case of defeating Fernández in the next elections. The candidate spoke of the "little money" that will remain "in December in the reserves", and the need to meet the payments committed by 2020 "without you lending us more money and without the possibility of resorting to the market, and with much of the stand by used to finance runs and an electoral dollar ”. He mentioned that the Government will be received “in recession and without growth”, so that the priority “will be to change this trend” which “will not be able to comply with this plan”, but that a possible Government under its mandate “is willing to negotiate a solid long-term agreement where the fiscal and commercial surplus is respected and there is a proactive attitude on both sides. ” After more than an hour of conversation, that meeting with Werner ended with a friendly phrase from the visitor: "I'm leaving much quieter."

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Werner will return in hours to meet with a high representative of the elected president. On Friday, at the University of Miami, the IMF official will share a poster at a seminar with Guillermo Nielsen. Probably, the future of the agreement between the agency and Argentina begins to take shape.

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