IMF confirms support for Macri, but also with greater focus on social protection

Friday, May 18th 2018 - 07:49 UTC

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The International Monetary Fund will move quickly to agree on a loan program to support Argentina but there are no details yet on what it will entail, a fund spokesman said on Thursday. However spokesperson Gerry Rice also underlined that the IMF nowadays has a greater focus on social protection, in particular towards the most vulnerable, ensuring the economy and living standards. Read full article

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Enrique Massot
Sweet talk on the IMF's part.

However, recent history shows the fund remains committed to imposing recessive conditions on countries in need of a bailout.

“…the fund is demanding further austerity measures and insisting on “structural” reforms of dubious value,” wrote Jan Strupczewski and Balazs Koranyi in a story published by Reuters about the ongoing Greek debt relief. “By sticking to this economic ideology, (the fund) is neutering the nascent economic growth and stifling any hope of real prosperity.”

The difference is, Argentina president Mauricio Macri has already been applying much of what the IMF usually requests. Only, he warned, things will now be going faster.

God save Argentina.

https://www.reuters.com/article/us-eurozone-greece/eu-imf-mull-greek-debt-relief-no-talks-on-bailout-extension-idUSKBN1HQ2OU
May 20th, 2018 - 05:37 am - Link - Report abuse 0
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