The vice-president of Argentina, the leftist Cristina Kirchner, called this Thursday (25) for “national unity” to “leave aside” the program agreed between the country’s government and the International Monetary Fund (IMF), considering that, under current terms, “it will be impossible” to pay the debt to the institution.
“If we don’t get the program that the IMF imposes on all its debtors to be set aside and allow us to elaborate our own program of growth, industrialization and technological innovation, it will be impossible to pay it, no matter what they say”, said the former president (2007-2015) and current vice president to thousands of people gathered in Plaza de Mayo, in Buenos Aires.
Cristina Kirchner was the keynote speaker at an event to mark the 20th anniversary of her husband, the late Néstor Kirchner (2003-2007), taking office as president of the country — he was her predecessor in government. Also present were the Minister of Economy, Sergio Massa, and the main leaders of the “hard core” of Kirchnerism.
During her speech, the former president assured that the credit granted by the IMF to the government of former president Mauricio Macri (2015-2019) in 2018 was “a political loan” and therefore must be redefined through “policy”.
“They think they’ll be able to pay it just with commodities. And don’t forget, because the commodities they also end up regulating financial flows and always accommodate you so that you continue to owe. National unity is essential in this regard. It was a political loan, and politics must also be the solution, “she emphasized.
fiscal imbalance
In March 2022, the government of the current president, Alberto Fernández, signed an agreement with the IMF to refinance approximately US$ 45 billion lent by the institution, through an extended facility program that includes fiscal discipline targets, reserve accumulation currencies and currency issuance limits.
There have been four quarterly reviews of the agreement so far, and the country is facing severe fiscal imbalances, exacerbated by a drought that has hit the agricultural sector and made it difficult to meet these targets.
Indeed, both parties are currently discussing the terms of the deal, in talks the IMF described as “constructive”.
#Cristina #Kirchner #asks #Argentina #put #IMF #program