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Montevideo, November 30th 2022 - 23:55 UTC
The International Monetary Fund reached an agreement with Argentina that will allow release of the next US$5.4 billion disbursement under the loan program intended to help stabilize the nation’s economy. Read full article
There can be no doubt now that the IMF is financing Mauricio Macri's presidential election campaign.
Against its own rules, the IMF has allowed the Argentine government to use loan money to prop the peso during the election campaign, to give an impression of stability bound to explode as soon as the outside help dries up.
The IMF's record-setting loan to Argentina avoided a clear default a year ago. The government to be elected in October will quickly face debt repayments, which will give the IMF another pressure tool over the future administration.
Depending on which government gets elected, the IMF may be more or less willing to renegotiate the repayments' schedule -- or not, as it happened in 2001 when the organization denied a standby loan, speeding the default declared at that time.
It doesn't become too difficult to anticipate the IMF's behaviour in case the Macri - Pichetto ticket wins. It also becomes easy to predict the IMF's greeting of an eventual Fernandez - Fernandez government.
REF: the next US$ 4.5bn:
The Begging bowl is FOREVER empty!
Awwww, poor Kamerad/Komrade Rique. At least your country will still be unable to bully its neighbors no matter who wins. Meanwhile, though, you'll still be on the lam...
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