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Montevideo, July 1st 2022 - 16:57 UTC
The International Monetary Fund staff and Argentina authorities have reached an agreement on a set of strengthened economic policies that will underpin the 36-month Stand-By Arrangement (SBA) approved on June 20, 2018. Read full article
This new IMF's poisoned gift will, first of all, ensure the Macri government has the dollars to make regular debt repayments to creditors.
However, at its core and beyond whistles and bells, this is just the IMF being the IMF and imposing a plan that will deepen an already damaging recession.
The Fund, of course, would like the Macri government to survive the 2019 election and is intent on helping. However, the hypocrisy surfaces through Lagarde statements:
“I support Argentina’s revised reform plan and believe it will be instrumental to restoring market confidence in the government’s ambitious economic agenda...
I challenge anyone here to provide a description of Macri's ambitious economic agenda.”
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