MercoPress. South Atlantic News Agency
End of a long stormy relation: IMF to close office in Buenos Aires
In a surprise move the IMF has decided to close its office in Buenos Aires and Argentine issues will be managed and formally addressed from Peru, according to a report from La Nacion, quoting IMF sources. Read full article
Comments
Disclaimer & comment rulesThe question is: For whom is it a shame? For Arg. or for the IMF?
Mar 12th, 2012 - 09:04 am - Link - Report abuse 0The arg. government is partly a criminal gang in financial belongings and the IMF a teethless tiger. Both are unnessecary in arg.
The question is: What is Nestor's lazy eye looking at?
Mar 12th, 2012 - 10:19 am - Link - Report abuse 0#2 A small fortune in Calafate ?
Mar 12th, 2012 - 11:30 am - Link - Report abuse 0@3 One eye on public opinion, and the other eye on your massively increasing private wealth (all gained whilst in office of course)
Mar 12th, 2012 - 11:32 am - Link - Report abuse 02 GreekYoghurt
Mar 12th, 2012 - 11:52 am - Link - Report abuse 0A bit like Jack Elam without the intelligence and charisma that Jack had.
No wonder the Mad Bitch is bipolar: it comes from wondering whether he was looking at her or the hot bit in the office. :o)
Glad the IMF woke up at last though.
Maybe they know the shit is about to hit the fan and they are moving to safer ground?
Mar 12th, 2012 - 11:59 am - Link - Report abuse 0“In 2007 the Kirchner administration started to manipulate the inflation index and other stats,”
Mar 12th, 2012 - 12:09 pm - Link - Report abuse 0history repeating itself?
@5 I suspect Jack might have done more for the Argentinians to be honest.
Mar 12th, 2012 - 01:23 pm - Link - Report abuse 0The IMF leaving is a good thing. G20 will probably be next in excluding them, and then the WTO. We can just sit there and watch it happen.
I'm wondering why the IMF had an office in Arg for the last 8 years! What were they doing all that time?
Mar 12th, 2012 - 02:46 pm - Link - Report abuse 0All of these items that the Ks have put off for so long hoping they would go way are all coming to a head. It is bad timing with the economy faltering/failing and then all of the Int'l Orgs coming after them too.
CFK asked to use U$20B ( 1/2) of the BCRA reserves to meet current funding issues and pay off the Paris club etc. this year. Last time their reserves were this low the economy crashed. Time will tell but it doesn't bode well for the short to medium term.
Is there a grammatical error in the last paragraph?
Mar 12th, 2012 - 03:12 pm - Link - Report abuse 0“Summing up, Argentina is the only G20 member that does comply with IMF commitments” doesn't sound right unless I'm missing the point?
10 Idlehands
Mar 12th, 2012 - 03:27 pm - Link - Report abuse 0Well spotted, I automatically read it 'correctly' in that they are the only G20 that does NOT comply!
@10 It's not going to be G20 for much longer. That's for sure.
Mar 12th, 2012 - 03:32 pm - Link - Report abuse 0Will it even make G77?
Mar 12th, 2012 - 04:24 pm - Link - Report abuse 0A concrete proof that the IMF is well-directed and well-managed.
Mar 12th, 2012 - 04:38 pm - Link - Report abuse 0God save the IMF!
Philippe
PS. FCO: please take note
another friend lost by argentina,
Mar 12th, 2012 - 10:39 pm - Link - Report abuse 0at this rate she will have none left,, if indeed she had any in the first place,
just a lonly thought .
There is a good reason for IMF to leave Argentina.
Mar 13th, 2012 - 10:38 pm - Link - Report abuse 0www.gregpalast.com/the-globalizer-who-came-in-from-the-cold/
After briberization, Step Two of the IMF/World Bank one-size-fits-all rescue-your-economy plan is 'Capital Market Liberalization.' In theory, capital market deregulation allows investment capital to flow in and out. Unfortunately, as in Indonesia and Brazil, the money simply flowed out and out. Stiglitz calls this the “Hot Money” cycle. Cash comes in for speculation in real estate and currency, then flees at the first whiff of trouble. A nation's reserves can drain in days, hours. And when that happens, to seduce speculators into returning a nation's own capital funds, the IMF demands these nations raise interest rates to 30%, 50% and 80%.
“The result was predictable,” said Stiglitz of the Hot Money tidal waves in Asia and Latin America. Higher interest rates demolished property values, savaged industrial production and drained national treasuries.
At this point, the IMF drags the gasping nation to Step Three: Market-Based Pricing, a fancy term for raising prices on food, water and cooking gas. This leads, predictably, to Step-Three-and-a-Half: what Stiglitz calls, “The IMF riot.”
Adieu!!
Mar 14th, 2012 - 09:06 pm - Link - Report abuse 0#14 Aye right.
Mar 15th, 2012 - 10:46 am - Link - Report abuse 0You couldn't make some of this stuff up!
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