IMF approval is imminent, allowing a disbursement of $5.5 billion to Argentina

Before the end of the week and before Christine Lagarde stops directing the International Monetary Fund (IMF), it is estimated that the technical mission of the international organization will approve the fourth revision of the Argentine economy that will allow a new disbursement of US $5.5 billion.

Lagarde herself, when she met with President Mauricio Macri in the framework of the G20 in Japan, beyond reiterating the Fund’s support for the economic stabilization program in Argentina said that “the Argentine authorities and the technical team of the Fund are close to concluding their talks about the fourth revision of the stand-by agreement and I hope to present it to our Executive Board very soon.”

This Thursday is a holiday in the United States for Independence Day and that is why it is estimated that on Friday the decision of the IMF mission in Argentina would be known.

This is the third review of the economic evolution of Argentina under the stand-by agreement that allowed the IMF to turn around $10.8 billion, reaching the total disbursements up to that date of $38.9 billion.

On that occasion, Lagarde said that “the IMF-backed agreement is bearing fruit” while stressing that “the high fiscal and current account deficits are declining.”

Through a statement, he said the activity was showing “indications that the recession has hit bottom, and a gradual recovery is expected in the coming quarters.” However, he warned that ” inflation remains high; inflationary expectations are rising and inflationary inertia is difficult to fail.”

These three aspects in this review are showing better results and that is why a “go-ahead” is ruled out in the new IMF report on the country.


Before Trump-Xi meeting, China asks the US to cancel sanctions against Huawei

The United States should immediately withdraw sanctions against the Chinese telecommunications equipment firm Huawei, said Gao Feng, spokesman for the Ministry of Commerce in Beijing, hours before the leaders of both countries meet to discuss trade.

China opposes US abuse of export controls and urges Washington to return to the path of cooperation, Feng said.

On Wednesday, US President Donald Trump said it is possible to reach an agreement with his counterpart Xi Jinping this weekend, when both are in the framework of the G20 summit in Japan, although he said he is willing to impose tariffs on almost all imports of Chinese products if the talks fail.

Trump has suggested that Huawei could be part of the agreement

Meanwhile, the newspaper The Wall Street Journal reported that Xi plans to present to Trump the terms to end the trade dispute, including the withdrawal of a ban on the sale of US technology to Huawei.

Trump is scheduled to meet with Xi in the Japanese city of Osaka, at 11:30 local time on Saturday.


Tariffs may not take effect or be necessary: ​​Trump adviser

Peter Navarro, a commercial advisor to the president of the United States Donald Trump, warned on Wednesday that tariffs on Mexican goods may not take effect or be necessary because now he has all the “attention of” Mexico to stop migration.

In an interview with CNN, Navarro added that the non-application of threats represents a glimmer of hope for companies in both countries, anxious about the effects it would have on consumers and companies alike.

Keep your promises

Due to the lack of progress on key issues in his 2016 election campaign, such as a border wall and the stop for migrants in the US, Trump said that Mexico must assume a harder line with the flow of people crossing national territory to request asylum in the US.

On Thursday May 30 Trump threatened to impose, as of Monday June 10, a 5% tariff on all products that Mexico exports to the US, a penalty that would increase another 5% every month to reach 25% if the Government Federal “does not do what is necessary” to stop migration and drug trafficking .


Zuckerberg Makes New Facebook Changes

Facebook is headed to become a platform “focused on privacy” and focused on confidentiality, its president Mark Zuckerberg announced Wednesday by delineating a strategic vision to transform the social network giant.

The strategic change, already outlined for a few months, seeks to solve two major Facebook problems: on the one hand, the incessant criticisms about permissive management of confidential user data, and on the other, a change in the behavior of Internet users, who prefer more intimate communication formats than the traditional “news thread” of the social network.

For Zuckerberg, Facebook must become a unified network, and one focused on private exchanges – as opposed to the publication of “posts” visible to a large number of people.

Zuckerberg says they will improve privacy.

When I think about the future of the internet, I think that a communications platform focused on privacy will be much more important than current open platforms,” Zuckerberg said.

Preference for privacy

The change follows the new tastes of social network users. “Today we see that private messages, ephemeral ‘stories’ and small groups are by far the fastest growing online communication formats,” Zuckerberg wrote on his Facebook page.

“Many people prefer the intimacy of one-on-one communication or only with friends. People are more careful to have a permanent record of what they share. And they hope to be able to do things like payments privately and securely,” he added.

The group president intends to technically unify the network with its other Messenger, Instagram and WhatsApp services, each with more than one billion users.

With this integration, it would be possible to exchange messages to and from those platforms, which could adopt data encryption, as is only the case currently in WhatsApp.

Controversies for two years

The strategic turn also responds to a desire to diversify the social network, to deal with slowing growth.

Pressed after an almost uninterrupted flow of controversies for more than two years ( false information, hate messages, manipulation of the platform for political purposes, handling of personal data, piracy), the group regularly claims to have learned from its mistakes.

Zuckerberg said it is increasingly important to “keep the information available for shorter periods” because “people want to know that what they share will not appear later to harm them.”

As part of that approach, Zuckerberg said Facebook has avoided maintaining data centers “in countries that have a history of rights violations, such as privacy or freedom of expression” to prevent governments from using the information to lash out at dissidents, for example.


Mexico: Trade agreement with the European Union will be signed in May

The Undersecretary of Foreign Trade of the Ministry of Economy in Mexico, Luz María de la Mora, said that the Government of Mexico could sign the Free Trade Agreement with the European Union next May .

After participating in the 102nd Assembly of the American Chamber of Commerce in Mexico, the federal official pointed out that the intention of said treaty is to enter into force no later than 2021.

She explained that the legal part of the texts in which they are working is currently being revised, which could be ready at the end of April to subsequently carry out the signing of the treaty.

Mexico rejects steel import rules proposed by the US

Moreover, Luz María de la Mora said the government of Mexico expresses its refusal to import quotas of steel proposed by the United States as a measure to ratify the new trade agreement with the US.

“The new Mexican government is clear that the application of measure 232 to steel and aluminum has no merit,” she said.

She noted that Mexico is not a threat to the national security of the United States, because it has a deficit of at least two billion dollars in the steel industry.