National deputy Maximo Kirchner resigned as leader of the government of Alberto Fernández in the Argentine Chamber this Monday (31), for disagreeing with a debt refinancing agreement of more than US$ 44 billion that the country has with the Fund. International Monetary Fund (IMF), announced last week.
Kirchner, who is the son of former presidents Nestor and Cristina Kirchner (current vice president), released a public letter in which he claimed that “this decision stems from not agreeing with the strategy, much less with the results achieved in the negotiation with the International Monetary Fund”. Fernández informed that the replacement should be announced this Tuesday (1st).
The Kirchnerist wing of Peronism had been criticizing the course of negotiations with the IMF, and before the agreement, whose discussions dragged on since the beginning of Fernández’s term, deputy Leopoldo Moreau, close to Cristina, declared in a radio interview that there was possibility of default and that this would not be “the worst medicine”.
The agreement still needs to have the details defined and be approved by the Argentine Congress and the IMF executive board. Kirchnerists mainly criticize the requirement for fiscal balance to be reached by 2025, which would require cuts in subsidies and social programs.
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