Argentina's president-elect rejects remaining IMF money

toongeorges

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This was an attention-grabbing headline with empty self-promotion as the objective. The IMF was unlikely to ever make the money available.
Indeed, it is the other way around. The IMF refused to pay the remaining 11 billion USD, unless Alberto F came with a new credible economic plan. Alberto did not refuse the money, but to come up with the economic plan and now he won't get the money, he is trying to spin the story to his advantage. Anyway, not a reassuring situation.
 

Bajo_cero2

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Indeed, it is the other way around. The IMF refused to pay the remaining 11 billion USD, unless Alberto F came with a new credible economic plan. Alberto did not refuse the money, but to come up with the economic plan and now he won't get the money, he is trying to spin the story to his advantage. Anyway, not a reassuring situation.
I disagree. FF does not want to have a plan that the IFM would like at all.
 

on the brink

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The title of this thread is misleading. Fernandez did not refuse the money - rather, he refused to submit the economic plan the IMF required before wiring the rest of the loan.

Probably because there is NO economic plan. I'd get ready for some major fumbling and bungling from the incoming regime.
 

Bajo_cero2

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Did anyone really expect this newly elected Government to have an economic plan? LOL the plan is to steal as much money as they can and have continued to do in the previous K Governments while giving handouts using other peoples money so the poor and rich keep voting for them. Welcome to reality my friends.
Sorry, but this is what I think about MM government.
 

on the brink

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Did anyone really expect this newly elected Government to have an economic plan? LOL the plan is to steal as much money as they can and have continued to do in the previous K Governments while giving handouts using other peoples money so the poor and rich keep voting for them. Welcome to reality my friends.
Truer words were never spoken .... or written.
 

TheDonald

Registered
Indeed, it is the other way around. The IMF refused to pay the remaining 11 billion USD, unless Alberto F came with a new credible economic plan. Alberto did not refuse the money, but to come up with the economic plan and now he won't get the money, he is trying to spin the story to his advantage. Anyway, not a reassuring situation.
Please cite the source of your information.
 

London2Baires

Registered
And for some related econimic news.

US tariffs on Argentine steel and aluminium imports are back on.

Trump Tweets : "Brazil and Argentina have been presiding over a massive devaluation of their currencies. which is not good for our farmers. Therefore, effective immediately, I will restore the Tariffs on all Steel & Aluminum that is shipped into the U.S. from those countries..."

I didn't realise metals were "farmed", but anyway... :D

Also, see further analysis in this ámbito article, below. Grim reading:

"La medida supone el golpe más duro a la relación comercial entre Argentina y Estados Unidos, prácticamente desde el cierre a las exportaciones locales de biodiésel. A la vez, anticipa un escenario comercial y financiero mucho más duro para el próximo mandato del presidente electo Alberto Fernández, quien deberá asumir un gobierno con una falta importante de dólares, deuda elevada en torno al 90% del PBI, compromisos financieros con bonistas y el FMI y un déficit financiero en torno al 5% del PBI.

Pero además, anticipa otro profundo giro proteccionista que la Casa Blanca le ha vuelto a imprimir a la política económica de la primera potencia global, y que podría también volver más dura la negociación con el FMI si finalmente termina también endureciendo las condiciones que EE.UU. quiere imponerle a la Argentina a través del organismo en medio de la renegociación por la deuda."

 
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