Economy

The IMF says Alberto Fernandez's first steps are heading in the right direction

Alejandro Werner, director for the Western Hemisphere, applauded the fiscal prudence, but warned that they are waiting for "a more profound dialogue" with the Fernández administration in Argentina.
LPO (Buenos Aires)

IMF Western Hemisphere Director Alejandro Werner welcomed the government's fiscal prudence and stressed that the first steps are going "in a positive direction" for the indebted country.

In an interview with CNN en Español, the Mexican IMF official said that the first economic policy announcements of the new Argentinean administration are "important measures that aim to protect the most vulnerable" and "try to stabilize the situation of instability of recent months".

"In that context we are watching what they are doing, these first measures show us that the government is moving in a positive direction," he added.

At the same time, he stressed that "all this" was done "without affecting the fiscal accounts, that is, that any increase in spending goes hand in hand with an increase in income that funds it in a healthy way".

The regional director warned that they are looking for "a deeper and more detailed dialogue" that "is not yet on the table".

As LPO explained, the first contact between government authorities and the Fund will be made by Sergio Chodos, who will travel to Washington next week to take over as executive director for the Southern Hemisphere and to meet with IMF president Kristalina Georgieva.

Meanwhile, the Ministry of Economy insists that "for the moment there is no need to go hand in hand", since they are having "very good communication at a distance".