2023-05-17 23:25:00
After the criticism expressed by Vice President Cristina Fernández de Kirchner, President Alberto Fernandez defended the Government’s position before the International Monetary Fund (IMF) and assured that the Minister of Economy, Sergio Massanegotiates with “the same logic” as on the first day of his presidential term.
In her letter declining any possible candidacies, the former president questioned the impact of the IMF on economic policy and its effects on the presidencies of Mauricio Macri and Alberto Fernández. “It is no coincidence that none of the two Presidents who accepted the IMF program retain electoral aptitude. However, in politics there is causality and the determining factor is the economy”.
Along these lines, Fernández explained: “We received a country in a complex situation. I don’t like to talk much regarding the past, but you have to remember it.”
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“(The economy) was in default in Argentine currency and was virtually in default with the debt they had taken on. It was a record debt in time and quantity. 150 billion taken in less than two years. Awesome! An unsustainable debt for Argentina”, started the head of state.
Fernández continued his presentation focusing on the importance of “debt sustainability“, a concept that the former minister was heard repeating more than once Martin Guzmanwho took the negotiations until June 2022.
“We got the IMF to talk regarding the need for debt sustainability for the first time and imposed the concept of sustainability on private creditors and that is why we achieved a reduction that will have meant a saving of 30 billion,” the President explained.
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And he continued with his argument: “When one is in default with the Fund, what is generated is the restriction of the loan with the rest of the organisms: that the World Bank, the IDB and the CAF do not lend us more money and that a swap, like the Chinese one, would have fallen”.
“You have to understand all this to understand why one has a need to deal with the Fund. The discussion is how to negotiate: one can negotiate with the orthodox rules, which the Fund always proposes, or how we negotiate,” Fernández highlighted in a clear response to the head of the Senate.
“Hoy, Sergio (Massa) is not negotiating like that; he is negotiating with the same logic as the first day“, sentenced the president in an act in Tecnópolis together with the chief of staff, Agustín Rossi; the president of Banco Nación, Silvina Batakis, and the secretary of Industry and Productive Development, José Ignacio de Mendiguren.
LM
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