Resumption of Argentina's financial program with IMF frozen... and “will have to wait”

Thursday, September 26th 2019 - 09:56 UTC

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Argentina’s financial program with the International Monetary Fund (IMF) will be on hold for some time as the nation grapples with severe political and economic uncertainty, the Fund’s Acting Managing Director David Lipton said an interview. Read full article

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Enrique Massot
The IMF and former director Christine Lagarde are in a bind and past decisions may come to bite them.

In its hurry to help president Mauricio Macri avoid a major payment crisis when private lenders turned their back on Argentina early 2018, the Fund granted the largest loan of its history in record time, without the presentation of a business case as customary.

Of course, releasing the last portion of the historical loan to a government reduced to the role of caretaker would only compound the irresponsibility of the Fund -- the equivalent of lending money to a drunken sailor on a Sunday at 4 am, when the guy is drinking whatever he can put his hands on.

We'll see the Fund's magnanimity tested once Alberto Fernandez takes office and negotiations going forward begin.
Sep 27th, 2019 - 11:58 pm - Link - Report abuse 0
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:o))
REF: “will have to wait”

Sure! Why not?

At least Brazil is willing to wait - for 10 years - for the economic miracles - generously/profusely 'promised' by the government!
Sep 30th, 2019 - 10:56 am - Link - Report abuse 0
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