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Montevideo, June 27th 2022 - 11:55 UTC

 

 

IMF completes review of Argentina's stand-by loan; Lagarde praises performance

Saturday, October 27th 2018 - 09:38 UTC
Full article 12 comments

The Executive Board of the International Monetary Fund (IMF) completed on Friday the first review of Argentina’s economic performance under the 36-month Stand-By Arrangement (SBA) that was approved on June 20, 2018. Read full article

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  • Enrique Massot

    Wow! Six out of the seven last MP stories about Argentina have no comments at all.

    Looks like most commentators have migrated to their renewed hopes: Brazil, its coming election and the likely triumph of far-right candidate Jair Bolsonaro. Argentina, where the warts of neo-liberal president Mauricio Macri administration are now showing their pus, is no longuer fashionable.

    And when the sad consequences of Bolsonaro's dirty job begin to appear, they'll go somewhere else, always in the pursuit of their backwards, neo-colonialist, neo-liberal, racist dreams.

    Coming back to the story above, it reads like an IMF press release:

    “...improving gender equality, protecting society’s most vulnerable, and laying the foundation for growth and job creation...”

    Give me a break. Not a single IMF dollar is going to social needs. Instead, the “deficit zero” goal will subtract a huge amount of money from the 2019 budget, money allocated exactly to social goals.

    Let's be clear about one thing: The loan approved Friday will go exclusively to feed foreign debt service payments. The Argentine budget must reduce deficit by cutting down most accounts but not the foreign debt servicing, which will continue being under a huge deficit - covered by IMF money.

    In this way, public IMF money will ensure pay back to private ventures that made huge profits buying Argentine bonds with high interest rates.

    And the loop is closed.

    Oct 27th, 2018 - 11:26 pm - Link - Report abuse -3
  • Brit Bob

    In respect to Argentina IMF stands for Impossible Mission Force.

    Oct 28th, 2018 - 01:50 pm - Link - Report abuse +1
  • bushpilot

    “Wow! Six out of the seven last MP stories about Argentina have no comments at all.”

    Well. Seven of seven of the last MP stories about Venezuela have no comments from “neo-liberal” posters either.

    EM has posted zero comments on Venezuela in the last “eighty” MP stories about it.

    By his thinking, does this mean then,

    Now that the sad consequences of Maduro's dirty job have appeared, he has gone somewhere else?

    Always in the pursuit of his backwards, pan-socialist colonialism, “steal other people's property”, “hate the rich, hate people who work” bigoted politics?

    Has he gone to only posting on Argentina stories?

    Oct 28th, 2018 - 06:10 pm - Link - Report abuse +1
  • Enrique Massot

    @bushpilot

    “...backwards, pan-socialist colonialism...steal other people's property...hate the rich, hate people who work...”

    Oh my. Apparently, I hit a raw nerve and bushpilot quickly dusted out his best collection of tired, Cold War-era type of “insults.”

    No. You’re dead wrong, my friend. No “hate the rich.” No need for it. We just need to end their schemes to get richer through money laundering, tax evasion, capital flight, tax havens and offshore shell companies…do Panama Papers still ring something?

    No ”hate people who work” of course. On the contrary, honest work is something everybody should be able to get instead of relying on an army of unemployed to keep wages low.

    And of course, no “pan-socialism colonialism,” (whatever that means).

    Oh! Incidentally, I have never commented on Venezuela. I referred to those who were experts on Argentina and suddenly stopped posting at about the time the Macri experiment ran its course and had to bring in the IMF to try and survive its own incapacity.

    Oct 28th, 2018 - 08:41 pm - Link - Report abuse -2
  • Tarquin Fin

    @bushpilot,

    I guess the lack of arg comments is due to people of this country being worn out by so many problems.

    Oct 28th, 2018 - 09:32 pm - Link - Report abuse 0
  • The Voice

    … except it was Riques pals the Peronist thieves who trashed the economy long before Macri got there. Riquenomics, a recipe for disaster…

    Oct 29th, 2018 - 03:07 pm - Link - Report abuse +1
  • Enrique Massot

    @TV

    Riquenomics!

    Thanks, TV! Good finding.

    Now, from your posting I surmise you are still blaming Kirchnerism for the current state of the economy?

    So are we to assume the disaster was so great Mauricio was utterly unable to turn around the economy in his almost three years in office?

    Not only that, the “heavy inheritance” was so heavy Macri could not avoid to worsen every single economic indicator?

    Are you at least half awake to realize the depth of ignorance or malicious intent you are exposing?

    Oct 29th, 2018 - 08:39 pm - Link - Report abuse -1
  • Zaphod Beeblebrox

    Reekie,

    “Wow! Six out of the seven last MP stories about Argentina have no comments at all.”

    Maybe the trolls are no longer getting paid?

    The recent pattern seems to be:
    1. You post an opinion.
    2. I point out that your opinion isn't supported by the facts and provide a link to appropriate data.
    3. You don't respond.
    4. The thread stops.

    TV,

    “Riquenomics, a recipe for disaster…”

    Very good. :-D

    Oct 30th, 2018 - 06:01 pm - Link - Report abuse 0
  • Enrique Massot

    ZB

    Sorry ZB, I don't have unlimited time at my disposal, so I am not able to respond to your thoughtful postings in all occasions.

    But further commenting about the above story from Riquenomics' point of view:

    This IMF agreement does nothing but putting the Macri government on life support while it finds an appropriate replacement for the October 2019 election.

    The IMF is not staffed with idiots, and they know Macri won't be able to achieve, in the last year of his term, what he was unable to achieve in the previous three. Furthermore, he's got a bad image among about 70 per cent of Argentines.

    However the IMF and the U.S. want to keep Argentina as a significant beachhead in South America, and a heavy debt load is a valuable tool to control any future government if the need arises.

    Of course, Zaphod, feel free to respond. If not, I am looking forward to get my routine minus one, two or three.

    Oct 31st, 2018 - 12:59 am - Link - Report abuse 0
  • Zaphod Beeblebrox

    EM,

    “Sorry ZB, I don't have unlimited time at my disposal, so I am not able to respond to your thoughtful postings in all occasions.”

    This is goes against your opening statement in this thread “Wow! Six out of the seven last MP stories about Argentina have no comments at all.”

    You equate a lack of responses to a drop in support for Macri, while your lack of responses is because you are too busy. Double standards?

    Oct 31st, 2018 - 05:43 pm - Link - Report abuse 0
  • Enrique Massot

    Oh, Zaphod, you really are thick.

    Incidentally, what about getting your creative comments under a story published today about Argentina? Come on, Zaphod you can do it!

    Nov 01st, 2018 - 05:14 pm - Link - Report abuse 0
  • Zaphod Beeblebrox

    Reekie,

    “Oh, Zaphod, you really are thick.”

    Ad hominem, Well done.

    “Incidentally, what about getting your creative comments under a story published today about Argentina? Come on, Zaphod you can do it!”

    Of course I can!

    Incidentally, what about getting your creative comments under a story published about a weeks ago about Argentina? Come on, Reekie you can do it!”

    http://en.mercopress.com/2018/10/24/argentina-reports-trade-surplus-in-september-the-first-since-december-2016

    Nov 01st, 2018 - 06:06 pm - Link - Report abuse 0

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