Argentina's president-elect rejects remaining IMF money

[camberiu]

Well, I would say that this is a good start. Hopefully more good decisions will follow, but I am not holding my breath.

Article

 

[jblaze5779]

Not sure why. If you're going to default wouldn't you want to get that money first then tell them you aren't paying?

 

[expat0tree]

Not sure why. If you're going to default wouldn't you want to get that money first then tell them you aren't paying?

I'm wondering about the same thing. It's quite clear that Argentina is going to default and shut itself to international credit again, until some liberal finally decides to pay it off a decade later when Argentina struggles to reform its financial sector and innovate its industry without the much needed foreign investment.

 

[Weyland]

It's a good start. I think there is probably more behind it than just not wanting to borrow more. He'll get money from elsewhere. I think it's a clever move because by not asking he's avoiding the IMF denying the loan, which would roil markets even further. Let's just hope the price he pays for funding from another source isn't too high. China may running the ports in 2025, after Argentina defaults on their loan. However, that might be a good thing - https://www.a24.com/actualidad/robo-pirana-puerto-imputaron-funcionarios-aduana-25112019_rkRuwod2S

 

[Somewhereinba]

The Chinese are already moving in - be careful the devil you sleep with. You thought the USA/IMF are bad lol..

 

[TheDonald]

This was an attention-grabbing headline with empty self-promotion as the objective. The IMF was unlikely to ever make the money available.

 

[Bajo_cero2]

Not sure why. If you're going to default wouldn't you want to get that money first then tell them you aren't paying?

It is a statement. NK paid out the IMF because they always boycott AR economy. FF cannot pay out, but he can gave them less reason to interference.

 

[mc kenna]

The one eyed wonder never paid , it was some propaganda that most people bought.
When in doubt, go straight to the source , in this case, the world bank, because at the end of the day, the IMF is the errand boy of the world bank.
Does not take an expert economist to figure out that argentina could never pay back its debt until one day out of the blue meester president pays it off, yet none of the people saw any type of documentation or receipt lol
Another urban legend just like the one of argentina claiming negotiations with Great Britain for 150 years prior to the Falkland invasion
absolutely ridiculous claims with no solid backing other than the word of an argie president and we all know how truthful these folks are.....

 

[on the brink]

China will probably now become our lender of choice, in exchange for the Patagonia.

 

[Ceviche]

mc Kenna, are you still alive?