David Lipton, left his position in the US Treasury. The man was key in the negotiation of Argentina’s agreement with the International Monetary Fund (IMF) in 2018. Now he left his place, he was a special advisor to Janet Yellen.

He was one of Yellen’s closest collaborators on various global issues and was particularly involved in supervision in the relationship with the government of Alberto Fernández.

Lipton’s departure, which was formalized on Wednesday, November 30, but has gained notoriety now, it was something sung after the departure of Yellen, who retired.

As reproduced by the Reuters agency days ago, through a statement, the Treasury Department had announced the departure. “Lipton, one of the closest advisers to US Treasury Secretary Janet Yellen, who has helped shape international economic policy, will step down,” the letter said.

“The former official of the International Monetary Fund has been Yellen’s international affairs adviser for the past two years,after he came out of retirement.

“He will be irreplaceable for the department, but I feel incredibly lucky to have had his advice”Yellen said in a statement.

Lipton, 69, knows Argentina well and has even participated in different negotiations since the 1980s, when he was part of the IMF missions to the country in the “lost decade” when the country remained in a state of semi-cessation of payments. during the military dictatorship and the government of Raúl Alfonsín.

Since then, he has gone through all the Argentine governments, participating both as an official of the International Monetary Fund and in the Treasury.

In 2011 the economist returned to the Fund as number 2 of the organization then led by Christine Lagarde. At that time, he had to interact with the government of Cristina Kirchner, which at that time was affected by the manipulation of public statistics, which in 2013 caused an unprecedented sanction and forced the economic team of Axel Kicillof to negotiate certain changes. The normalization of INDEC only came with the government of Mauricio Macri.

In mid-March 2018, Lipton landed in Buenos Aires with Lagarde and the regional auditor, Alejandro Werner, to participate in the G20 ministerial meeting, chaired that year by Argentina.

In August 2018 Macri faced a currency run, with more than weak reserves in the BCRA. The Government of the PRO made an official request for the money coming from Washington to help the entity face the onslaught. The request was met with a radical refusal by Lipton, because it violated Article VI of the IMF’s charter. Macri then called Trump, who through his Treasury secretary, Steven Mnuchin, got Lipton to finally accept and sign permission for the country to dispose of some US$ 6,000 M to contain eventual runs.

Exit from the IMF, return to the Treasury

When Georgieva took over the Lipton Fund, she was ousted because the former vice president of the European Commission and the World Bank wanted to assume full control of the organization.

However, when Yellen took over as Treasury secretary with the Joe Biden government, she rescued Lipton as her special adviser and once again Argentina slipped into the topics to be followed by the economist.