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.4 comments
The nomination of Christine Lagarde as European Central Bank president on Tuesday has thrust the International Monetary Fund into an early, unanticipated search for a new leader amid a raging trade war that has darkened the outlook for global growth.
One year since its start, it has become clear that the IMF program in Argentina has failed to deliver on its promises to fix the economy while protecting the most vulnerable. Despite the worsening economy, large human costs, and a significant downward adjustment of growth projections, the IMF is doubling down on its austerity approach and requiring additional spending cuts to meet budget targets.
Alberto Fernandez, the main challenger to incumbent President Mauricio Macri in October elections, said on Thursday that if elected he would seek to “rework” Argentina’s huge financing deal with the International Monetary Fund, calling it “harmful.”
“What good is it to throw a man ten feet of rope if he is drowning in 20 feet of water?” asked Kenneth Rogoff, former chief economist of the IMF, to The Economist 15 years ago. His question still bothers the institution he used to advise.
Giant technology companies might cause significant disruption to the world's financial system, the head of the International Monetary Fund has warned. Christine Lagarde said just a few firms with big data access and artificial intelligence could run the global payment and settlement arrangements.
The International Monetary Fund, IMF, admitted on Wednesday that it had underestimated the “incredibly complicated situation” of the Argentine economy and also that taming inflation had taken much longer than originally expected.
Companies in the United States are paying almost all the costs from tariffs on Chinese imports, International Monetary Fund (IMF) researchers said in findings that contradict US President Donald Trump's assertions that China is footing the bill.
Argentine assets have tumbled so far, so fast that a few stout-hearted investors say it might be time to buy. “Find me a high-yield sovereign country with an IMF program paying so generously,” said Jean-Dominique Butikofer, the Atlanta-based head of emerging-market fixed income at Voya Investment Management, which oversees about US$ 205 billion.
Argentine bonds and the country’s embattled peso currency fell for a second day on Thursday, cranking up the challenge facing President Mauricio Macri as his drop in the polls ahead of knife-edge elections later this year unnerves investors.