Cristina Kirchner received Martín Guzmán at her home to talk about the negotiation with the IMF

(Franco Fafasuli) Cristina Fernández de Kirchner and Martín Guzmán during a formal presentation at the Bicentennial Museum

Alberto Fernández and Cristina Fernández de Kirchner share the same strategy to refinance with the International Monetary Fund (IMF) the debt of 44,000 million dollars that Mauricio Macri contracted, and Martín Guzmán informs and analyzes with the two main partners of the Government his continuous conversations with the technical staff and the board that must decide whether to accept -or not- Argentina’s financial and economic proposal to avoid a default in March.

The vice president received the minister in her apartment on Juncal street, and Guzmán shared the latest details of the negotiation that he is undertaking with the Fund to reach an agreement before March 22. That day, Argentina must cancel a capital maturity close to 3,000 million dollars, which do not exist in the reserves of the Central Bank.

The information that CFK received is identical to that handled by the President.

And in the same sense it happens with the lightning trip that Santiago Cafiero stars in Washington. The chancellor will meet today with the secretary of state, Antony Blinken, and the political objective of his raid on DC was also analyzed and discussed with the vice president.

“There are no differences with Cristina. We agree on the negotiation strategy with the IMF”, Alberto Fernández insists every time he is asked if CFK agrees with Guzmán’s management before the Fund’s staff and board.

The negotiation with the International Monetary Fund is a continuous rear that does not respect the weekends. Guzmán maintains confidential dialogues with Kristalina Georgieva and certain directors of the board who represent Latin American and European countries, and stars in everyday conversations with Julie Kozack, deputy director of the Western Hemisphere department.

Alberto Fernández, Cristina Fernández de Kirchner and Martín Guzmán during a formal presentation at the Bicentennial Museum
Alberto Fernández, Cristina Fernández de Kirchner and Martín Guzmán during a formal presentation at the Bicentennial Museum (POOL/)

But nevertheless, the agreement is still under negotiation. It is not true – as Governor Gerardo Morales pointed out – that tomorrow an adjustment program will be presented in Washington. The talks continue and will continue until Joseph Biden makes a political decision.

Treasury Secretary Janet Yellen maintains that the official proposal is inconsistent and that the fiscal path must be reviewed to further reduce the deficit in 2022, while the State Department and the West Wing of the White House consider that a political view must prevail before a government that flirts with China, Russia and the dictatorships of Cuba, Nicaragua and Venezuela.

Alberto Fernandez knows the geopolitical dilemma of Biden and bets that Cafiero fulfill his role against Blinken, Guzmán advances before the staff and the board of the IMF, and that CFK -with all the reserved information at its disposal- appease the romantic adventures of La Cámpora that it still uses gramscian categories to analyze a world without the Cold War.

Minister Guzmán insists to Kristalina Georgieva, the staff and the directors of the board that another twist to public spending is not necessary, that investment in infrastructure and the knowledge economy should be privileged, and that the government will continue to insist on the recovery of the economy.

Cristina shares these arguments and her accompaniment is key to guaranteeing a unified position in the Frente de Todos. It happened in 2021 that Guzmán had a speech in Washington, and the Cámpora and the Patria Institute played guerrilla warfare to wear down the head of the Treasury Palace.

The novelty in the negotiation, which is in the making here and in DC, consists of an increase in tax collection that would strengthen the position of Alberto Fernández when he rejects a fiscal adjustment as required by Secretary Yellen. That increase in collection, regardless of inflation rates, would allow a step forward in a complex negotiation that may collide with default in March.

It was already dark on Juncal Avenue when Guzmán got into the official car. She was satisfied.

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