IMF wants to wrap up talks to financially support Argentina “as rapidly as possible”

Friday, September 7th 2018 - 09:18 UTC

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The International Monetary Fund said on Thursday it aimed to wrap up talks to “strengthen” a US$ 50 billion backup financing deal with Argentina “as rapidly as possible,” as the country's peso and stocks climbed for a second straight day. Read full article

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Enrique Massot
The Macri government hasn't been able to fulfill the first part of the agreement with the IMF because the first $15 billion have already run out. What the story calls “early disbursements” is also bound to rapidly be exhausted in debt payments which have now become a significant percentage of the country's budget.

Both Macri and the IMF know that the government's parroted “deficit zero” will be soon gone the same way Macri's “poverty zero” promise was gone before. Recession is already hitting before even the measures are applied.

In the meantime, Macri and his “best team of the last 50 years” has discovered the virtues of the “Cared for prices” selected list of basic household items that were under price control during the CFK government -- just a few days after announcing a return to taxing agri-food exports.

Give Macri a few more days and he may come back to implementing controls stopping capital flight.
Sep 08th, 2018 - 03:17 am - Link - Report abuse -2
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