MercoPress. South Atlantic News Agency

Kicillof downplays Argentina's relation with IMF; Capitanich describes it as 'normal'

“The IMF is not a creditor of Argentina” pointed out the Economy minister

Argentina's Economy minister Axel Kicillof tried to downplay his recent to the G20/ IMF annual meetings held in Washington, saying the country is a regular attendant, and insisting that the country has no agreements with the IMF ”because it’s not an Argentine creditor”. Cabinet chief on the other hand described Argentina's relation with the IMF as 'normal'.

 “I had an active agenda in four simultaneous events, they are the ordinary meetings held every year. Every year Argentina and the Economy Minister participate in these meetings,” Kicillof said, rejecting some media outlets which “gave importance to my presence in those meetings.”

“If I hadn’t gone, it would have been a scandal too,” he complaint. ”Today, we have a different relation with the IMF as it is no longer an Argentine creditor. We have attended because we are members and we did it to give our critical point of view amid the discussions over the world economy” the Argentine economy minister said.

Speaking to reporters at the Government House on Monday, Kicillof went on to say he has been critical regarding the recommendations made by the IMF amid the international economic crisis.

During the recently held World Bank and IMF annual meetings, Kicillof warned about the “pressure” the stimulus withdrawal from developed nations might cause, which would force emerging economies to raise their interest rates, and implement monetary restrictions to “compete with international financial flows”.

Meanwhile cabinet Chief Jorge Capitanich who repeatedly accused the IMF of 'ideological bias' on Monday described Argentina’s relation with the International Monetary Fund (IMF) as “normal” and praised the role the country has got in international organizations, affirming “it’s always defending the domestic trade interests.”

“The relation Argentina has with international organizations is normal as any member state, defending Argentina’s interests, regarding relations with other countries as well as our industry, trade and production” Capitanich said referring to a future trade agreement between Mercosur bloc and the European Union.

Talking about that possible deal, the head of ministers assure “there are conclusions which must be analyzed jointly” and added that “the Brazilian role within the five countries, including Venezuela” must also be studied.

“There has been significant progress and the common offer will only be a methodological matter to be agreed between the parts towards a final presentation,” he stated.