Together, these two elements allow for a quantification of the envelope of debt relief that is required, in staff’s view, to restore debt sustainability with high probability. Lagarde, but we may have more esteem for Ms. Georgieva. Ultimately, our objective is to pave the way for a stable and prosperous economy that can create jobs and raise living standards for the benefit of all Argentines.”. If you select Option 2 you will be directed to the MyTIS Registration page, this is a FREE membership. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member. Our technical note is designed to provide guidance to stakeholders on Argentina’s complex debt situation by offering our views on Argentina’s debt-carrying capacity in the medium to long-run. IMF Staff Technical Statement on Argentina, “CME Group Reports Slight Uptick in FX Volumes”. The reports were prepared by an IMF team in spring of 2013 and were discussed and finalized by the IMF's Executive Board on July 12, 2013. “...our priority is...to pave the way for a stable and prosperous economy that can create jobs and raise living standards for the benefit of all Argentines,” Georgieva added. [1] At the request of the Argentine authorities, IMF staff prepared a Technical Note on Public Debt Sustainability, which was published on March 20, 2020.The March Technical Note provided staff’s view on the envelope of debt relief that could underpin a debt restructuring consistent with restoring public debt sustainability with high probability. We did not like a bit Mme. If you continue to use this site we will assume that you are happy with it. The information contained on this website is of a general nature only. CME Group Reports Slight Uptick in FX Volumes, Aqua Digital Rising Taps Gold-i for Listing Unique Indices, Ballinger & Co Announces Barclays As Principal Banking Partner, revised debt restructuring proposal of May 26, Technical Note on Public Debt Sustainability, South Africa Looks Toward Inclusive Recovery to Stabilize Debt, Boost Growth, IMF: Transparency Makes Central Banks More Effective and Trusted, IMF: Opening Remarks at Advances in Monetary Economics Conference, IMF Managing Director Kristalina Georgieva Appoints Alfred Kammer as Director of the European Department, Toward a More Resilient Europe – AN IMF Blog, Speech on the Global and Asia Economic Outlook, IMF staff analysis finds that Argentine authorities’ revised. It is based on the information available at the time it was completed in May, 2013. The technical note sets out staff’s views on a feasible macroeconomic framework and on Argentina’s debt-carrying capacity over the medium-to-long run. The evaluation suggests ten lessons, in the areas of surveillance and program design, crisis management, and the … IMF staff’s assessment further suggests that there is only limited scope to increase payments to private creditors and still meet the debt and debt service thresholds. The exchange indicated it reached …, Continue reading “CME Group Reports Slight Uptick in FX Volumes”. This report evaluates the role of the IMF in Argentina during 1991-2001, focusing particularly on the period of crisis management from 2000 until early 2002. “In parallel, my staff and I continue to engage closely with the Argentine authorities and Economy Minister Martin Guzmán and his team, during these difficult times. The March Technical Note provided staff’s view on the envelope of debt relief that could underpin a debt restructuring consistent with restoring public debt sustainability with high probability. Ms. Kristalina Georgieva, Managing Director of the IMF, issued the following statement on publication of the note: “Caring for Argentina’s most vulnerable people and addressing the country’s difficult economic situation has been at the top of President Alberto Fernández’s priorities since he took office. We strongly recommend you to seek independent professional advice or to conduct your own independent research before acting upon any information contained on this website. CME Group, the world’s leading and most diverse derivatives marketplace reported its September and third-quarter 2020 market statistics showing mixed results for various trading instruments. [3] The authorities assume the financing gap arising from the official debt service falling due during 2021-24 is refinanced at a weighted average interest rate of 3.5 percent and maturity of 8.8 years. Second, using staff’s macroeconomic assumptions contained in the March Technical Note but the authorities’ financing assumptions, the authorities’ revised debt restructuring proposal would result in GFN and FX debt service ratios as a share of GDP that fall marginally below the 5 percent of GDP GFN and 3 percent of GDP FX debt service medium-term thresholds necessary to restore debt sustainability with high probability. “Our technical note is designed to provide guidance to stakeholders on Argentina’s complex debt situation”, wrote IMF Managing Director Kristalina Georgieva IMF officials declared Argentina’s debt unsustainable earlier this year, calling on creditors to make a “meaningful contribution” to help restore Argentina’s debt sustainability. At the request of the Argentine authorities and reflecting close collaboration with them, the International Monetary Fund (IMF) released on Friday a technical note prepared by IMF staff on Argentina’s public debt sustainability. “As we continue to advance in our engagement and work, I would like to stress that our priority is and remains helping support Argentina’s recovery with a particular focus on those that have the least and are most exposed. Get our news on your inbox! Recent topics include guidance on drafting advance tax ruling regimes, advance tax rulings, and general anti-avoidance rules. The March Technical Note provided staff’s view on the envelope of debt relief that could underpin a debt restructuring consistent with restoring public debt sustainability with high probability. The Argentine authorities are taking important steps to contain the spread of the coronavirus and have underscored their commitment to protecting those at highest risk from its most damaging health and economic effects. Suscribe, “Our technical note is designed to provide guidance to stakeholders on Argentina’s complex debt situation”, wrote IMF Managing Director Kristalina Georgieva. IMF Country Reports cover economic and financial developments and trends in member countries. Argentina: Financial Sector Assessment Program-Financial Safety Nets- Technical Note, ASEAN - Association of Southeast Asian Nations, Industries - Hospitality, Travel and Tourism, Insurance - Risk Assessment and Management, Environmental Conservation and Protection, Ecosystems and Habitats - Oceans and Seas, Public Policy - Social Services and Welfare, International Relations - Trade and Tariffs, Public Policy - City Planning and Urban Development, Power Resources - Alternative and Renewable, Annual Report on Exchange Arrangements and Exchange Restrictions, Argentina: Financial Sector Assessment Program - Financial Safety Net - Technical Note. Although the Banco Central de la República de Argentina (BCRA) facilities have not been tested, they are well … The March Technical Note and this Staff Statement are a form of technical assistance under Article V, Section 2(b), of the IMF’s Articles of Agreement. Commenting for this story is now closed.If you have a Facebook account, become a fan and comment on our Facebook Page! The government invited the IMF to assess its May 26 restructuring proposal, which would see investors take haircuts of up to 12% on their bond holdings.