The next target is in front of the fund’s board of directors

After I persuade Germany to vote positively on the Board of Directors International Monetary Fund On the next August 23, when discussing the Argentine case, There are now six days left to achieve the most complex goal: Japan’s raised hand. This country and its representatives in world financial organizations today The biggest critics are against ArgentinaAnd it is not yet known what position they will show when discussing and voting on the staff level agreement by the Board of Directors that he chairs. Kristalina Georgieva. And although it is estimated that the votes are already For the ventilator, which the state will receive from International Monetary Fund As of December, expressed as approximately US$10,750 million, Japan’s refusal to endorse what has already been negotiated and agreed between Sergio Massa’s Palace of Finance and Rodrigo Valdes’ administration of the Western Hemisphere would set an appalling precedent.. before the panorama The minister himself and his negotiating officials before the IMF have been publishing strategies since these days Directly to explain the situation to Japan.

Argentina already has an important critical mass. between United State, the European Union almost full, France, Brazil, China and Russia and blocs that usually vote less critically of the country (no one is ever quite satisfied with what is proposed about the country), the support needed to approve the new pact that will govern the parties will already be secured in the House at least until December.

Since what the state is proposing is to change the criteria already in place due to non-compliance with the expanded accommodations in effect through April, only a vote of more than 85% can approve the request. For this, the support of the United States is key because it owns 16.74% of the shares, without which it would be impossible for the intention to flourish (slightly) in the IMF’s organic charter. Some contend that, in fact, since it is a change to an agreement already in place, only 70% of the affirmative vote would be needed, a level which is also required assent and hardening by the United States. the total, The Board of Directors consists of 24 directors which represent, in percentage terms, different levels of authority within the organization. The United States, Japan, Germany, France, and the United Kingdom could elect a director without assistance from any other country; China, Saudi Arabia and Russia each elect an effective administrator; While the remaining 16 choose it according to country groups.

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Masa already knows Japan’s decisive position. The Minister of Economy actually came across Japan’s irreducibility last March, when he was negotiating a final agreement with this entity with Paris Club creditors. All countries to which Argentina owed money accepted. Japan demanded only more stringent conditions for signing the agreement.

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As this newspaper reported yesterday, the personal lobby of Sergio Massa over a high-ranking German official made this country (the other country besides Japan with a decisive position) decide to support the new agreement. The Minister of Economy spoke 10 days ago with Jörg Kökes, one of the most important figures in the German government In the field of finance and international economic relations, he obtained validation.

He is Secretary of State in the Federal Chancellery, a position he has held since April 2018. Previously, he was Co-CEO of Goldman Sachs AG and Managing Director of Goldman Sachs International’s Frankfurt branch from 2014 to 2018. State, holds a degree in economics from the University of Pantheon-Sorbonne in Paris and a master’s degree in public administration from Harvard University’s John F. Kennedy School of Government, as well as a doctoral degree in finance from the university’s Graduate School of Business. Hailing from Chicago, Kukies has, among other responsibilities, the responsibility of defining German policy before international financial organizations, including, obviously, the International Monetary Fund.

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