New IMF chief negotiators shake up Libertarian gov’t in Argentina
Valdés was said to have sided with former Argentine Economy Minister Sergio Massa, thus holding ill feelings towards Milei’s administration
After the recent announcement that IMF Director Rodrigo Valdés would no longer lead negotiations with Argentina, there was a mix of emotions at Casa Rosada. President Javier Milei saw it as a victory, but Economy Minister Luis Toto Caputo was left reevaluating the situation. Valdés’s functions were taken over by Deputy Directors Luis Cubeddu and Ashvin Ahuja, marking a shift in the dynamics of the talks.
Milei emphasized Valdés’s ties to Sergio Massa and alleged objections to Argentina’s compliance with IMF guidelines. The change in negotiators puts Argentina in a challenging position, reminiscent of a setback in 2022. The IMF’s proposed devaluation and other measures present new obstacles for Milei’s administration, testing their approach to economic policies.
Valdés’s background in finance and experience as Chile’s Finance Minister bring a unique perspective to the negotiations, while the new team at the IMF signals a fresh start for Argentina’s economic relations on the global stage.
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