IMF supports Argentina and its temporary currency controls

Monday, September 2nd 2019 - 09:50 UTC

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The International Monetary Fund said it will stand by Argentina after the government authorized currency controls on Sunday in an about-face by President Mauricio Macri, who had previously lifted many protectionist practices of his predecessor, Cristina Fernandez de Kirchner. Read full article

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Enrique Massot
Just weeks before the end of his term, Mauricio Macri resorted to imposing dollar-buying restrictions and other “populist” control mechanisms he had strongly criticized during the previous CFK government.

These measures, however, come as too little, too late. They could have been implemented as preventive mechanisms early in the process, but now that the horses are out of the barn they will have little effect.

The Macri time in office will make it to history books...for all the wrong reasons.
Sep 02nd, 2019 - 04:08 pm - Link - Report abuse -2
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