Sense of dread grows in Argentina with difficult March ahead

[antipodean]

Well, yes, that makes sense.
When you can't afford to make payments on your existing debt, borrowing more is absolutely the logical thing to do.

Wasn’t that the logic applied by the last government?

 

[Redpossum]

Wasn’t that the logic applied by the last government?

I was being ironic

 

[gracielle]

23 February 2022

How Argentina’s IMF deal will test ‘exceptional’ criteria limits

As the International Monetary Fund staff and Argentina advance on talks for a new agreement, the lender’s board is closely following whether the country meets four key criteria that would allow it to receive a large loan.

www.batimes.com.ar

 

[Redpossum]

`For Argentina's sake, I hope the IMF and WB refuse to give them another penny. The borrowing has to stop, and the sooner the better.

 

[gracielle]

24 February 2022 by Gustavo Ybarra

Rebeldía en el Senado: el oficialismo no aprobará a libro cerrado el acuerdo con el FMI

Tras una reunión convulsionada y crítica hacia la Casa Rosada, la bancada que conduce Mayans decidió que no adelantará una postura hasta no tener el texto definitivo del entendimiento con el Fondo

www.lanacion.com.ar

Rebellion in the Senate: the ruling party will not approve the agreement with the IMF in a closed-book process. Hours before the content of the IMF agreement is known, the Senators' bloc of the Frente de Todos once again sent signals of rebellion and decided that it will not guarantee to Alberto Fernández their approval. After a long and stormy meeting, in which almost no voices of support to the Gov't were heard, the ruling senators led by José Mayans (Formosa) decided that, with the agreement in hand, they will meet again to discuss it and, only then, they will make a decision on the course to follow when the agreement enters the chamber of the Upper House. "The alternative will be between voting what the majority decides or giving freedom of action", explained a member of the ruling party....

....The sending of the understanding to Congress has been postponed once again. Sources of the Lower House confirmed that the text would not be sent until next Monday, for which the Bureau of Entries will be enabled in a special way on a holiday, and not this Friday, as promised by the Executive Power after the date of last Tuesday was also unfulfilled....

 

[gracielle]

25 February 2022....reprint of article published by Diario Clarin

Noticias de Tucumán, Argentina y el mundo

En La Criticas vas a estar informado las 24hs de lo que pasa en Tucumán, Argentina y el mundo

lacritica.com.ar

Martín Guzmán's counterproposal and Alberto Fernández's promise to Cristina Kirchner. On Thursday night, Martín Guzmán made a counter-proposal to apply a rate hike on utility bills. He submitted to the IMF a paper with a higher adjustment than that desired by Cristina: a general increase of 29%, instead of the 20% that ENRE defends and proposed.

Julie Kosack -the auditor- was laconic and forceful: she rejected Guzmán's suggestion. The IMF staff insists that Guzman's numbers do not add up and is suspicious of the minister's promise to lower the deficit. That is why Kosack -and Luis Cubeddu- hardened their position. Both were frank with Guzmán: they believe that the 2.5% goal is inconsistent with the lukewarm reduction of subsidies that Cristina -until Thursday- imposed on Alberto. There has been a series of meetings and everything is still open: as the hours go by, Washington questions more and demands further adjustment. Guzman's strategy of delaying any definition was a real failure. IMF bureaucrats want reassurances. And they also ask themselves: what validity do Guzmán's promises have, if Máximo asks for his head and Cristina silently criticizes him? Alberto resists. And he thinks of a last minute political negotiation with Kristalina Georgieva. It will be done if Guzmán's last gesture fails. The Minister asked for time. This Thursday night he transmitted this message in Olivos: "On Monday we are going to close". Alberto is panicking. He does not want to start the Legislative Assembly with the technical agreement open: it would be a political embarrassment....

 

[sts7049]

live look at the government deciding who will be to blame for the collapse