Post by account_disa*cenzēts*d on Feb 22, 2024 13:10:15 GMT 2
After Several Months of Exchange Rate Crisis and Peso Depreciation, Macri Received More Than $100 Million in Financing From the International Monetary Fund. Argentina Became the Organization's Main Debtor. Its Debt is Currently Equivalent to the Institution's Investment Portfolio. Yet the Huge Injection of Money Failed to Stem the Crisis and Even Led to the Outgoing Government Defaulting on Its Terms Just Days Before Stepping Down.
From the First Day in Office of the Winning Formula of Fernández De Kirchner, the Tenor of the Imf Loan Has Oman Mobile Number List Hung Over the New Government Like the Sword of Damocles. All Sectors of the Todos Front Agreed on Some Basic Issues. Macri Assumed the Loan Under an Imf Agreement With Questiona*cenzēts* Legality and Very Little Domestic Political Legitimacy. The Debt Was Assumed Without Discussion in the Argentine Congress. The President Announced It in a Video. Fact. One and a Half Minutes Long. The Imf Itself Admitted in an Internal Assessment Report in 2017 That at Least Some of the U.s. Dollar Funding Was Provided by Argentina to Financial Investors to Unwind Their Peso Positions and Flee the Country's Currency.
The Possibility of Actually Paying Back the Loan Was Illusive From the Start. Then During the Pandemic It Became Clear That It Was Impossi*cenzēts* to Face the Dollar Maturity Schedule as Agreed. But That Was the End of the Agreement. At the Same Time the Loan Remains Valid Because It is a Sovereign Obligation Undertaken by the State. After Two Years of Negotiations, Economy Minister Martin Guzman, a Former Student of Economics Professor Joseph Stiglitz at Columbia University, Announced That He Had Secured a Pre-financing Agreement. This Took the Form of an Expanded Credit Facility Through Which the International Monetary Fund Will Provide the Country With the Funds Needed to Meet Each Scheduled Payment, Conditional on Approval of a Quarterly Review of Argentina's Economic Data. The Conditions Demanded by the Imf, While Lower Than Those the Organization Has Historically Imposed, Include a Commitment to Increase Energy Prices and to in Some Way Review the Country's Social Security System.
From the First Day in Office of the Winning Formula of Fernández De Kirchner, the Tenor of the Imf Loan Has Oman Mobile Number List Hung Over the New Government Like the Sword of Damocles. All Sectors of the Todos Front Agreed on Some Basic Issues. Macri Assumed the Loan Under an Imf Agreement With Questiona*cenzēts* Legality and Very Little Domestic Political Legitimacy. The Debt Was Assumed Without Discussion in the Argentine Congress. The President Announced It in a Video. Fact. One and a Half Minutes Long. The Imf Itself Admitted in an Internal Assessment Report in 2017 That at Least Some of the U.s. Dollar Funding Was Provided by Argentina to Financial Investors to Unwind Their Peso Positions and Flee the Country's Currency.
The Possibility of Actually Paying Back the Loan Was Illusive From the Start. Then During the Pandemic It Became Clear That It Was Impossi*cenzēts* to Face the Dollar Maturity Schedule as Agreed. But That Was the End of the Agreement. At the Same Time the Loan Remains Valid Because It is a Sovereign Obligation Undertaken by the State. After Two Years of Negotiations, Economy Minister Martin Guzman, a Former Student of Economics Professor Joseph Stiglitz at Columbia University, Announced That He Had Secured a Pre-financing Agreement. This Took the Form of an Expanded Credit Facility Through Which the International Monetary Fund Will Provide the Country With the Funds Needed to Meet Each Scheduled Payment, Conditional on Approval of a Quarterly Review of Argentina's Economic Data. The Conditions Demanded by the Imf, While Lower Than Those the Organization Has Historically Imposed, Include a Commitment to Increase Energy Prices and to in Some Way Review the Country's Social Security System.
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