Mauricio Macri’s Government must guarantee that with the new disbursement in favor of Argentina for USD 5.4 billion that the International Monetary Fund (IMF) will sign this Friday will comply with all the deadlines agreed for this year. This new disbursement is given after the approval of the quarterly goals to March by the technical staff of the fund. Read full article
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Disclaimer & comment rulesIMF can keep dreaming/hoping that the alms'll ever be repaid!
Jul 12th, 2019 - 11:56 am - Link - Report abuse 0Anyone for more purple Kool-Aid?
Jul 12th, 2019 - 03:10 pm - Link - Report abuse -2Who is kidding whom here?
Jul 12th, 2019 - 08:07 pm - Link - Report abuse 0The amazing generosity of the IMF towards Argentina -- it provided the country a record loan in spite of history lessons -- is impossible to explain without taking into account the US's political interest in keeping Mauricio Macri in power in Argentina, which together with Brazil tilt South America's balance of power to the right.
At the same time, the substantial debt will saddle the government to assume in December 2019 with a rash of debt service repayments. If it's not a government of their like, the IMF will be able to apply significant pressure on the new kids in the block, taking into account what MP reports:
The new government that will assume in December, whatever its color, will have to go out to finance itself in the markets for a figure close to USD 15,000 million, in addition to the refinancing of Letes in both pesos and dollars.
Good luck trying! Private markets stopped lending to Argentina mid-2018, forcing president Mauricio Macri to run to the IMF for help.
@:o))
It's not as simple. The IMF has preferred creditor status so it must be paid first. In any event, it would be up to the private investors to restructure their claims -- at a potential loss.
@Enrique Massot
Jul 13th, 2019 - 10:09 pm - Link - Report abuse 0REF: It's not as simple:
I know! But the loopholes+diplomacy+corruption make it easier.
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