MercoPress. South Atlantic News Agency
What will be the IMF's reaction to the new Argentine political scenario?
Argentina's peso slipped further against the dollar Tuesday while the stock market partially recovered as South America's third-largest economy continued to take a pummeling in the wake of pro-business President Mauricio Macri's crushing defeat in party primaries. Read full article
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Disclaimer & comment rulesThe IMF has been caught with its pants down.
Aug 15th, 2019 - 12:30 pm - Link - Report abuse -1The financial chaos unleashed after the primary election has revealed that the record loans provided to the Macri government failed to solidify the Argentine economy.
After four years of Macrist administration, Alberto Fernández will receive a country economically devastated.
So much for the free-market, business-friendly policies that have allowed unprecedented carry trade speculation and capital flight.
Similarly to previous occasions, a small group of well-positioned individuals and corporations have mercilessly plundered Argentina, leaving the mess to others.
A generous country indeed.
“The IMF has been caught with its pants down.”
Aug 15th, 2019 - 06:11 pm - Link - Report abuse +1You may be correct.
“The financial chaos unleashed after the primary election has revealed that the record loans provided to the Macri government failed to solidify the Argentine economy.”
Yes, if the economy was great this presumably wouldn't have happened. However, they also reveal VERY CLEARLY what the markets think of the prospect of another K government.
“After four years of Macrist administration, Alberto Fernández will receive a country economically devastated.”
How does it compare to what Macri inherited? How much in fines did Macri's governenment have to pay for the illegal actions of his predeccessor?
“So much for the free-market, business-friendly policies that have allowed unprecedented carry trade speculation and capital flight.”
You prefer the Venezuela model then?
“Similarly to previous occasions, a small group of well-positioned individuals and corporations have mercilessly plundered Argentina, leaving the mess to others.”
Maybe, but at least Macri actually did invest in infrastructure so the Argentines can see where some of the money went.
I think the logical response from the IMF will be to ask for as much money back as possible from Macri while he still has it. They will have cut their losses and will not reinvest until they are more confident in who is managing the economy. So FF will start with no money in the bank and will blame it all on Macri, vultures and anything else except their own incompetence and greed. How much has the IMF invested in Venezuela?
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