MercoPress. South Atlantic News Agency
Argentine minister meets IMF Lagarde and US Treasury official: ratifies “gradualism”
Argentina Economy Minister Nicolas Dujovne is due to meet on Thursday with IMF chief Christine Lagarde to request a financing package to help shore up the struggling economy, officials said. Dujovne will also meet with a senior US Treasury official in a key step in the talks with the IMF, which are likely to last six weeks, his spokesman said in a statement. Read full article
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Disclaimer & comment rulesDoes anyone really believe that the change in government has improved the economy sufficiently to enable it to repay any foreign debt.
May 10th, 2018 - 01:59 pm - Link - Report abuse +1How many billions has the Macri administration already borrowed?
May 10th, 2018 - 03:46 pm - Link - Report abuse +1And that huge borrowed amount led to: a severe need to borrow even more billions.
The IMF loans money where no one in their right mind would. That's why going to the IMF just serves to multiply misery.
“in 2006 the Argentine Government paid off its loans to the IMF and severed its ties to them”
“we need the loans to fix past errors of the previous administration”
You see,
“We need to borrow the money to trash the one thing the Kirchner administration did not err at”.
Absolutely. This is a desperate move of president Mauricio Macri, after foreign private investors shut down the money spigot and began abandoning Argentine.
May 10th, 2018 - 06:27 pm - Link - Report abuse -2Thirty months ago I forecasted Macri was coming to operate a wealth redistribution scheme in favour of the most fortunate. He pretty much successfully achieved this part of the plan.
However, no one imagined the greed and arrogance of Macri & Co. would be paired up with such clumsiness to manage the economy--not even to ensure their political survival, e.g. the presidential election of October 2019.
Macri and his “best team of the last 50 years” have managed to unite a divided opposition, which for the first time put together a common project to reduce steep increases in the cost of energy to consumers. To implement that, the Legislature gave preliminary approval, on April 9, to a bill forcing the utilities bills to their last November prices and tying future increases to wage growth.
Sic gloria transit mundi...
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