With the signature of six presidents, the Authorities despatched a letter to Joe Biden asking for assist in the negotiation with the IMF – Muricas News

Inside an envelope and complying with diplomatic protocols, america embassy obtained on Thursday a letter signed by six presidents of the area wherein they requested “with respect and affection” that “Help Argentina within the negotiations that the Authorities is finishing up earlier than the Worldwide Financial Fund.

“The frequent and shared rules within the Americas, round democracy, human rights and social inclusion ought to information us to discover a fast and efficient resolution for Argentina” They signed a doc that was being negotiated by Overseas Minister Santiago Cafiero, and that President Andrés Manuel López Obrador revealed – with out giving particulars – this week. The Mexican president, who plans to return to the nation in September, signed the letter, which criticizes, with out giving names, the federal government of Mauricio Macri for having requested a US$57 billion mortgage from the Fund.

The letter can also be signed by Luis Inacio Lula da Silva (Brazil), Luis Arce (Bolivia), Mario Abdo Benitez (Paraguay), Gustavo Petro (Colombia), and Gabriel Boric (Chile). The absence of Uruguayan Luis Lacalle Pou attracts consideration.

In the previous couple of hours, Lula declared himself “very involved” concerning the Argentine scenario.

The complete textual content of the letter is as follows:

“The nations of the area are carefully following the scenario that Argentina goes by, on account of the mixed impact of over-indebtedness within the earlier administration, the pandemic, the impression of the conflict in Ukraine and the results of the best drought the nation has suffered within the final century…

… The Argentine authorities has been working laborious to take care of the distinctive debt owed to the Worldwide Financial Fund (IMF). That is the most important mortgage granted within the historical past of the group, which had the endorsement of its principal shareholders, for an quantity higher than 1,000 p.c of its quota…

… However the aforementioned exceptionality, Argentina’s willingness to honor its multilateral commitments has been unquestionable. Because the approval of the brand new program with the IMF that was duly authorized by the Nationwide Congress, Argentina has met the agreed targets and consolidated a means of development, job creation and monetary order….

… The exogenous shock posed by the drought —by definition fully past the desire of the Argentine authorities and its individuals— has induced a lack of overseas forex of greater than 20% of the nation’s exports, with a extreme impact on the worldwide reserves that It has difficult the conventional functioning of the alternate market, lowered tax sources and had an impression on inflation….

…. Extraordinary circumstances name for extraordinary responses, as extraordinary because the over-indebtedness brought on by the IMF mortgage, which is likely one of the principal causes of the present scenario. We search an answer that permits the expansion of Argentina, the era of employment and the rise of its exports. All of them are vital circumstances for the nation, in flip, to have the ability to meet the maturities of the aforementioned mortgage.

… Argentina has requested the IMF for a overview to beat the difficulties introduced by this atypical yr and to function a bridge till varied ongoing initiatives mature, notably these associated to vitality and mining, which could have a major impression on the nation’s stability of funds

… The leaders of the area imagine that it's potential to discover a consensual resolution that may permit Argentina to navigate the scenario wherein it finds itself. It's not possible and neither is it fascinating that calls for that don't duly take into account the change in circumstances submerge Argentina in an pointless disaster that interrupts the continuing restoration. The inflexibility of the IMF to overview the parameters of the settlement within the context of the drought described runs the danger of turning a liquidity drawback right into a solvency one….

… For these causes, we respectfully and affectionately ask you to help Argentina within the negotiations that it's finishing up with the aforementioned physique. The frequent and shared rules within the Americas, round democracy, human rights and social inclusion ought to information us to discover a fast and efficient resolution for Argentina….