IMF: “foolish” for Argentine presidential candidates to abandon the program

Friday, April 12th 2019 - 09:49 UTC

Full article 8 comments

Argentina’s economic reform program is beginning to show results, so it would “foolish” for presidential candidates to abandon the program, International Monetary Fund chief Christine Lagarde said Thursday. Read full article

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Jonaz_BsAs
And that's exactly why they will do so. Foolish behaviour is the very gist of the Argentine idiosyncrasy.

Lagarde should start looking for her next job. I have no doubt that Brussel will receive you with open arms.
Apr 12th, 2019 - 02:19 pm - Link - Report abuse +2
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Enrique Massot
Beginning to show results? Who Mme. Lagarde thinks she is kidding — besides herself?

All the IMF has done was to extend the life of an incompetent government, ensure Argentina pays its foreign creditors, and force the Macri government to implement even deeper recession-prone measures that are chastising a wary population.

Talk about foolishness.
Apr 12th, 2019 - 04:21 pm - Link - Report abuse -2
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golfcronie
Well said EM, and how do you think Argentina would manage with no money. You are already at the beck and call of the Chins,Why not go back to Argentina and show them how to run a country. All started with Peron and then the Kirchners putting their mitts in the tin.Let the Kirchners show how they amassed a fortune.
Apr 12th, 2019 - 05:16 pm - Link - Report abuse +4
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Enrique Massot
@GC

“how do you think Argentina would manage with no money.”

You must have a very distorted view of economics to propose that countries -- any country -- must rely on foreign funds to function. Foreign investment may, of course, be useful to speed up projects increasing a country's repayment capacity. Using borrowed money to pay just for operations -- as anyone who has used a credit card to pay grocery bills knows -- leads to financial difficulties and pushes a country to default.

“All started with Peron and then the Kirchners putting their mitts in the tin...amassed a fortune.”

GC should be cautious assuming that. Nothing has been proved in court, and several recent court decisions such as the restitution of Los Sauces to CFK appear to have taken an unexpected direction.

“You are already at the beck and call of the Chins.”

Whatever, GC. Take a nap.
Apr 14th, 2019 - 12:09 am - Link - Report abuse -2
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Frank
'Enrique Massot

You must have a very distorted view of economics to propose that countries -- any country -- must rely on foreign funds to function'.

All ( proper) countries rely on foreign funds to function..... you produce something of value... sell it to someone.... and receive foreign funds in exchange.... simples...

Sadly RGs think some magic is involved in making things work.

I think 'Peronist Cargo Cult' would describe it...

from Wiki...to save you the trouble....
'A cargo cult is a belief system among members of a relatively undeveloped society in which adherents practice superstitious rituals hoping to bring modern goods supplied by a more technologically advanced society. '
Apr 14th, 2019 - 09:17 pm - Link - Report abuse 0
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:o))
As a last resort - perhaps the ONLY resort - and if there are buyers; they should offer Argentina For SELL!
Apr 15th, 2019 - 12:58 pm - Link - Report abuse 0
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Malvinense 1833
In total agreement with Golfie: “All started with Peron”
While the Peronists continue as a government option, I prefer that the British continue in possession of our islands.
Apr 16th, 2019 - 03:48 pm - Link - Report abuse 0
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Enrique Massot
@Frank

OK, Frank. Read again this sentence from my previous post:

“Foreign investment may, of course, be useful to speed up projects increasing a country's repayment capacity.”

Now let's read your own sentence from above:

“You produce something of value, sell it...receive foreign funds...”

That, my friend, did not happen -- at all -- in Macri's Argentina. All the borrowed money went to pay for operations -- not to any capital investment, e.g. infrastructure projects. And that is the very reason the economy is crumbling. I gather you don't know much detail on Argentina's current situation -- you must consult sources other than MP for that. If you rely on MP alone you would not know the extent of the economic crisis.

As for your “cargo cult” esoteric claim, anyone may claim anything and you just did it.
Apr 18th, 2019 - 04:13 am - Link - Report abuse 0
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