Friday’s approval of the review of the program by the board of the International Monetary Fund also trigger another fresh and vital game of money to accumulate reserves: $ 1.2 billion in loans from the Inter-American Development Bank (IDB)who will receive the green light next Wednesday, as he learned Clarionewhen the board of directors meets.
These loans, which are linked to the agreement with the Fund, were paralyzed months ago by the recently resigned IDB president Mauricio Claver Carone, because he believed that Argentina had not met the program objectives with the IMF and that is why. which would not have been issued by the Bank. The government had these loans to add to the reserves and thus be able to achieve the objectives of the program with the Fund.
Claver Carone, an American of Cuban descent, harbored a personal grudge against the government since he was former President Donald Trump’s regional adviser and was invited to the inauguration of Alberto Fernández and left Buenos Aires prematurely due to the presence of Venezuelan regime officials.
The relationship is further complicated when Claver Carone presents himself as a candidate to chair the IDB, violating the tradition that a Latin American should lead the organization, to the detriment of Gustavo Béliz’s candidacy. Although he tried to soften his position from the head of the IDB, he has always been a harsh critic of Kirchnerism.
But the arrival of Sergio Massa in Economics – with whom he has always had an excellent relationship – Claver Carone changed his mind and last month announced in Washington together with the Argentine minister, in the lobby of the IDB building, that “they had unlocked what I have was locked “.
In particular, announced that the IDB would disburse the promised $ 500 million and then add another $ 700 million. These loans are available free of charge, which would serve to support reserves.
In addition, an additional US $ 1,933 to be released by the end of the year has been agreed tourism projects, safety, roads, health, neighborhood improvement, waste management, clean energyamong others.
Claver Carone ended up being fired in the midst of a scandalous forbidden relationship with a senior Bank official on September 26, and the much-needed loan for Argentina appeared to be delayed. However, he took the usual lanes and got technical approval.
as he knew Clarione, the green light from the Fund this Friday, which approves the Argentine performance, allows for the approval of the disbursement in the IDB. The details of the loan are already circulating among the directors and on Wednesday there will be a meeting where it is estimated that they will finally be approved.
Source: Clarin
