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Lagarde leaves Argentina out of tour for not complying with understanding

Sunday, November 27th 2011 - 08:07 UTC
Full article 29 comments

IMF chief specifically excluded Argentina from its coming Latinamerican tour because the government of President Cristina Fernandez still has to comply with what was agreed last July, basically normalizing the controversial INDEC stats office and open its books to auditing as happens with all other members of the G20. Read full article


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  • ElaineB

    ”Amado (I have a haircut from the 80's) Boudou sent a letter to the board of the IMF committing the government to end with INDEC distortions and elaborate stats consistent with the IMF membership protocol. The IMF later released a communiqué where for the first time made reference to stats anomalies and even doubted the solidity of Argentine growth data. ”

    CFK's government were able to fool the 10m that voted for her.

    Nov 27th, 2011 - 09:09 am - Link - Report abuse 0
  • geo

    Argentina's almost all tallies are true in spite of their deficiencies ...!!

    Nov 27th, 2011 - 09:40 am - Link - Report abuse 0
  • GeoffWard2

    For God's sake, give Christina a chance. She has only just got re-elected.

    She needs a bit of time to condition her population to accept higher prices and the IMF demands.

    This will need some powerful propaganda messages, but she has started - the “pull hard for our country” exhortations when she introduced her removal of subsidies from utility bills, shows she is about to do the same with wage-control.

    Wage 'increases' have to be dropped to 'substantially below real inflation' if IMF demands are ever to be reached.
    Therefore she has to condition the people to accept the real rate of inflation whilst dropping wage-awards to the present INDEC levels.

    To do this she has to part company with the unions/union bosses, and she has to strengthen her personal support within the military for when the streets fill with real anti-government protest.

    Christina REALLY needs the IMF and World Bank monies - and USA dollars - to get the country through its problems.

    All the above MUST happen, and will happen, because closing the door and curling up in a little ball of introspective protectionism just will not do the biz.

    Nov 27th, 2011 - 01:47 pm - Link - Report abuse 0
  • Conqueror

    @3 So what you're saying is that CFK needs time to get started on doing something she was supposed to get started on doing 4 months ago?

    Still, it's not surprising. When was the last time that Argentina complied with understandings, agreements, commitments or even international law without being forced?

    Nov 27th, 2011 - 01:58 pm - Link - Report abuse 0
  • ElaineB

    It is a cultural predeliction. The times I have heard, “Yes, that is the law/rule but *laughs* we are Argentines” in response to questions. They like the idea of laws as long as they do not apply to them personally. Generally speaking.

    Nov 27th, 2011 - 02:12 pm - Link - Report abuse 0
  • yankeeboy

    Geoff you are spot on.
    I think sometime after the Holidays CFK will indict/prosecute/persecute the top labor leaders on corruption charges. It will allow her to take over the union insurance and dues. Which will give her more needed $ and the Unions much less power.
    I am not sure she will get the military involved though that is a very risky proposition in ARG too many bad memories and the possibility of them turning on her.
    The cash outflow is still tremendous no matter what the gov't says, they have bullied and threatened all the banks and trading houses to comply with the gov't set exchange rate/rules. Since so much of the $ is unreported people have stopped trading in those places. There are going to be a lot of suitcases of cash going to Uruguay this summer.
    The smart $ is already out of the country now it will be the middle and lower class that is going to get screwed and they know it.

    Nov 27th, 2011 - 02:18 pm - Link - Report abuse 0
  • Beef

    Give CFK a chance? It is not as if she has only been president for a few weeks.

    Nov 27th, 2011 - 03:09 pm - Link - Report abuse 0
  • GeoffWard2

    you need first to get through the messy business of winning the election - in CFK's case, easy - but then you have to alter the mind-set of the country to the BIG issue.

    You have to establish that HARDSHIP is the way you support your country.

    You have to demonstrate that the causes of the hardship are outside the country and that there is a malevolent force at work.

    CFK will go for a multi-malevolent approach - US, UK, TFI, IMF, World Bank, Uraguay, Chile - so she can play these various fugues on the 'nationalist' organ.

    She will do-in the unions as covert enemies of the people; she has to.

    She will continue to put her placemen in the top jobs in the police and military; she has to, to protect herself.

    She will typify any and all dissent as Anti-Argentinian; she has to.

    She will do what is necessary to gain IMF and US mega-cash injections; she has to.

    When you box yourself into a corner, the options are very, very, few.

    Nov 27th, 2011 - 04:24 pm - Link - Report abuse 0
  • jerry

    And I think that she is about out of options; she is grasping at straws.

    Nov 27th, 2011 - 04:30 pm - Link - Report abuse 0
  • geo2

    Ms Lagarde

    Congratulations !!

    here is a miracle from you !!

    your protected country Palau has 4.9 hospital beds/1000 population
    while Aussie has mere 3.82 hospital beds/1000 population ...!!

    Nov 27th, 2011 - 05:49 pm - Link - Report abuse 0
  • O gara

    Geoffrey your cynicism is abysmal.There is of course a grain of truth in what you say as CFK is like all politicians :liberal with the truth.However I would bet that every pm or President in Europe would love to be in her position

    Nov 27th, 2011 - 07:55 pm - Link - Report abuse 0
  • GeoffWard2

    O'G #11, re #8:

    for cynicism, read realistic. I've seen it all before, many times, all over the world.

    And would the European PMs and presidents like to be in her position - not in a million years! They know enough to know what's coming down the track.

    Nov 27th, 2011 - 08:23 pm - Link - Report abuse 0
  • Yuleno

    The problem with the remark #3 that Argentina needs USA dollars is that the USA doesn't have enough dollars for's debt along with EU's debt is why the world economy will's the 'developed economies' once again that make the for the scenario that is painted I think that is a picture of Greece Italy UK and other countries now and other countries soon isn't it

    Nov 27th, 2011 - 08:28 pm - Link - Report abuse 0
  • Pirat-Hunter

    Argentina is doing exellent when compared to IMF dictatorship in other nations, not even mentioning the 2001 economic collapse of the Argentine banking system do to IMF dictatorship, I thinik the IMF mised the boat in 2001 when money was really an issue, we can all agree that IMF and UN cares very little for the poor nations, this can be seen on the veto power given to prefered nations underminding real international justice, knowing this ! why would Argentina want to sit and deal with crooks, murderers and thieves ??? in any case Argenmtina is doing very well with out IMF and Argentina's books should be a matter of national security, IMF can go and do any study and publish all the lies and BS they want, we have a national bank in Argentina that can print pesos and even dollars if that is how the game is played. I hear there is a latinamerican inteligence servcise comming out of the South American pipeline. for mercopress reports, this might be a bad sign but for Argentines who had to deal with IMF dictators for years this will boost simpathy for Cristina and also make Argentina more independent from corrupt foreign capitalists.

    Nov 27th, 2011 - 11:14 pm - Link - Report abuse 0
  • Wireless

    I'm sure the US would be happy for you lot to print dollars, go ahead and do it and see what happens.

    Nov 28th, 2011 - 01:51 am - Link - Report abuse 0
  • Pirat-Hunter

    15 done ! and waiting to see what happens ?? hot hot items crispy 100U$ notes for only 20$ each don't miss out, or you'll be left in the dust..

    Nov 28th, 2011 - 04:27 am - Link - Report abuse 0
  • wesley mouch

    Boudou is doing voodoo with the economic numbers. If you live in Argentina, take your money and run before CFK and her fellow Peronists steal it.

    Nov 28th, 2011 - 03:55 pm - Link - Report abuse 0
  • ChrisR

    Pratt-Junta #16
    Why is it when almost all the other members here are talking sense or trying to, you come in with the biggests load of rubbish imaginable?
    Argentina can do without the IMF? I don't think so and nor does CFK.
    Who, other than the Argentinian government are the crooks (cooking the books) murderers (your own past) and thieves (CFK and her cronies)? Guess why the 'books are sealed' - because they don't add up!
    But nevermind, being independent from currupt foreigh capatilists just leaves you bound to corrupt Peronistas.

    Nov 28th, 2011 - 04:08 pm - Link - Report abuse 0
  • Tim

    We are all praying Psalm 109 verse 8

    Nov 28th, 2011 - 06:38 pm - Link - Report abuse 0
  • Think

    (19) Tim

    Are we......?
    Not me................!

    Psalm 109:8
    Let his days be few; and let another take his office.
    Let his children be fatherless, and his wife a widow.
    Let his children be continually vagabonds, and beg: let them seek their bread also out of their desolate places.
    Let the extortioner catch all that he hath; and let the strangers spoil his labor.
    Let there be none to extend mercy unto him: neither let there be any to favor his fatherless children.
    Let his posterity be cut off; and in the generation following let their name be blotted out.
    Let the iniquity of his fathers be remembered with the LORD; and let not the sin of his mother be blotted out.
    Let them be before the LORD continually, that he may cut off the memory of them from the earth.

    Why all that wrath old chap?

    Nov 28th, 2011 - 06:58 pm - Link - Report abuse 0
  • Yuleno

    Quite correct why all that wrath chrisR will know because only he can tell what is good and what is rubbish(he must be British?)and only the British and their allies talk the good everyone else talks do I know.because chrisR says so see#18

    Nov 28th, 2011 - 10:09 pm - Link - Report abuse 0
  • Pirat-Hunter

    18 you must be reading the charade posted by UK ignorants. if Argentina was really cooking the books it would because of national security issues and that is ok by me, since USA uses national security to arm terrorists and lie and kill people, why couldn't Argentina use national security to protect the people rather then use it to kill them as USA and UK does every day ???? what are we black ?? tell you what we will judge the racist with the same rod they meassure us, no more no less, and you'll be lectured with the same BS you intend to lecture others on, justice is simple do no ask from others what you are not willing to do yourself, and I support Argentina in getting a nuclear defence program to rid Islas Malvinas from british illegal alien occupation, british murderous pirats and thieves go home no one want filthy thieves like you in their land.

    Nov 28th, 2011 - 11:28 pm - Link - Report abuse 0
  • Wireless

    Its all ok with you because you're on welfare in British Columbia, Canada, getting your free ride. One day you'll be forced to return to the shit tip you call home.

    Nov 29th, 2011 - 01:34 am - Link - Report abuse 0
  • ChrisR

    #21 Anyone with two brain cells can tell the nonsense that you and others spout is based on indoctrination, not reasoned thought.
    #18 Pratt-Junta If I accept for a moment your acceptance of false accounting is OK by you (which is one step away from a communist 'heaven' like your mates in Cuba) what about the murderers and thieves, or is that OK as well?
    AND, once again (#22) you want the peaceful people of the Falklands (there are no Malvinas, as you know) murdered by another bunch of cowards from Argentina.
    PS Does the goverment pay you to post this vitriol?

    Nov 29th, 2011 - 10:15 am - Link - Report abuse 0
  • Yuleno

    Glad you have two brain cells chrisR perhaps they might multiply in time

    Nov 29th, 2011 - 02:11 pm - Link - Report abuse 0
  • ChrisR

    Before making this 'obvious' comment perhaps you should have thought through the rammifications.
    Because you are still making crass and 'clever' (NOT) responses, you have demonstrated your complete lack of intellect: but that is why I structured my comment as I did and you fell for it.
    Try thinking in future.

    Nov 29th, 2011 - 04:50 pm - Link - Report abuse 0
  • Yuleno

    You are so clever I'm surprised you get anything wrong but not as surprised as you would be.there is a place called las Malvinas it's the name given to some islands that the British call by another whether you agree with that or not does not change that as a said there was now such can give yourself a bonus point for a correct answer

    Nov 29th, 2011 - 08:05 pm - Link - Report abuse 0
  • Pirat-Hunter

    if Argentina was really cooking the books it would because of national security issues and that is ok by me, since USA uses national security to arm terrorists and lie and kill people, why couldn't Argentina use national security to protect the people rather then use it to kill them as USA and UK does every day, my opinions goes out to Latin Americans who are not homosexuals. yes I am homofovic so please restrain yourself from acting like one.

    Nov 30th, 2011 - 12:53 am - Link - Report abuse 0
  • ed

    (#) 28
    Don't forget that some countries in this world are the subcontactors.
    You can easily find them at anywhere Africa/Asia/Latin America ..... not only in Nato/former Warsaw pact.

    Dec 02nd, 2011 - 10:33 am - Link - Report abuse 0

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