Managing Director of the International Monetary Fund, Kristalina Georgieva warns this Wednesday about “the big risk” of inflation in Argentina and said that the biggest challenge today is “program implementation” will check that “soon”.

Georgieva spoke on the framework of the Spring Assembly of the Fund and the Global Framework taking place today in Washington personally and virtually. He was presented by the head of the agency Global Policy Report and then answered the questions of some journalists.

Georgieva was consulted about Argentina and the challenges of the program signed in March with the Government. The official pointed out: “We have one goal and that is to have a program that can be successfully implemented and help Argentines. So the challenge of the next few days is implementation. “

And he added that “heImplementation must be recalibrated to reflect changes in the global economy. In the case of Argentina, some changes are positive because Argentina is an exporter of raw materials. “

For Georgieva, however, “the big risk is inflation, which is also rising due to exogenous factors ”and said that“ great attention will also be paid to how to bring inflation to the point where people in Argentina are confident that their savings can be in their money ”.

The head of the Fund noted that the initial review of the program was presented due to the new international context and said that “reviews have been accelerated and as soon as possible they will ask our team and the Argentine authorities about the results of the analysis as it progresses, ”he said.

Exactly, Minister Martín Guzmán is in Washington these days to attend the Assembly and G20 and bilateral meetings and other events in this capital. But its most important mission is the re -calibration of the program which, despite the fact that it was signed in March, is already faced with some challenges such as inflation and rising energy.

The lowering of the price index (in March it reached 6.7%) is one of the keys to the program, as well as the reduction of energy subsidies.

Georgieva was also consulted about the dangers of political division in Argentina, but he avoided mentioning that subject.

In its Global Economic Projections Report, the IMF forecast on Tuesday that Argentina will grow this year by 4%one point higher than the forecast in January, that is unemployment will be 9.3% and that inflation is imminent 48%, despite the fact that the market calculates it at 60% or maybe more.

In her opening presentation, Georgieva referred to the global crisis. He said the present is “an important time for the world, facing crisis after crisis. The war over the pandemic. It looks like another typhoon has hit before we can finally recover, “he said.

“The result is a massive setback for the global recovery,” explaining that they have lowered the global growth forecast to 3.6% for both this year and 2023, with downgrades for 143 countries.

He also warned about another global consequence: the acceleration of inflation, which has been “A clear and current danger in many countries”Because rising food and fuel prices“ are pushing household budgets to the breaking point. ”

He said there are three ways to control inflation: “first, adjust the monetary policy of central banks; second, because of the growing food risk, global action is needed; and, third, because of debt growth due to increasing central bank rates, governments need measures to strengthen their financial balances with more balanced tax measures, ”he explained.

He also pointed out possible future risks: “financial restrictions, high debt and frequent and widespread lockouts in China, which are causing additional bottlenecks in global supply chains, are further dark clouds weighing on global economy. “