translated from Spanish: Donald Trump support Macri in the midst of argentina’s economic crisis

US President Donald Trump backed on Tuesday to his Argentine counterpart Mauricio Macri on a key day in which the South American country will hold talks with e l International Monetary Fund to obtain resources to meet the financial needs of 2019.Un statement released by the White House reported that Trump spoke by telephone with Macri and reaffirmed «strong support of the United States» to him. The US President praised the performance of his Argentine counterpart in this «very difficult» economic and financial situation and noted that it supports its commitment to the IMF to strengthen monetary and fiscal policies. The conversation came hours before the meeting that will be held in Washington the Argentine economy Minister, Nicolás Dujovne, and Managing Director of the IMF, Christine Lagarde.Mientras all eyes are on the talks between Dujovne and LaGarde, weight accelerated depreciation in Argentina. Thus, the dollar closed to 39.50 pesos per unit on the 38 of the eve. The sale of 358 million dollars by the Central Bank prevented one fall greater of the local currency. So far the year’s weight has devalued about 53%. Meanwhile, the Merval index – which brings together leading shares listed on the stock exchange of Buenos Aires – recorded a fall of 2.83%. Dujovne will attempt to agree the reception early in 2019 Fund whose delivery was planned from 2020 after the revision of the credit agreement that Argentina signed in June with the IMF for 50,000 million dollars to cope with the currency crisis that began a month before. The official faces negotiations with the compromise announced the day before by Macri to zero fiscal deficit by 2019, for which ministries were reduced and announced the imposition of a tax on all exports to ensure a greater volume income.» If we anticipate funds to 2019 that were available at the 2020 and 2021 probably achieve that Argentina don’t need to market under any circumstances and we would be protecting from any additional shocks,»said Dujovne channel LN +. Meanwhile, the Minister of the Interior, Rogelio Frigerio told journalists that «the expectation is to close a supplementary agreement to which we had to provide the possibility of having no need to take debt» and considered that you to overcome the crisis of confidence that It afflicts the country, «not enough to tell the market what are going to do… because it is waiting for you that we demystify these things». According to the official, in addition to the new agreement with the IMF, investors also are waiting for Argentina to quickly approve its budget for next year, which should involve «a significant expenditure reduction». Last week the IMF issued a statement of support for Argentina when the weight not braking its fell even though the Central Bank had raised the benchmark rate 60% a year, the highest in the world. The Agency stated his desire to advance the dialogue and eventually «present the economic plan revised to the IMF Executive Board». The rise of the dollar has become overheated in the last months inflation, which according to analysts will be located in at least 32%. Rising commodity prices has increased discomfort social and multiplied the protests in the streets. The Government considers that some factors that impacted on the crisis were the severe drought which hit the field – the sector which ensures more revenue – and adverse international conditions such as the rise in the price of oil and the United States interest rates.



Original source in Spanish

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