Argentina’s vice president, Cristina Kirchner, criticized the payments to the IMF (International Monetary Fund), saying they cost the country more than Covid-19, as per discussions over a new $40 billion deal. .8 bi) show little sign of progress.
The former president blamed the government of her predecessor, the conservative Mauricio Macri, for the country’s debt problems. Macri’s government struck a record $57 billion deal with the IMF in 2018, but failed to prevent an economic crisis.
“It is quite clear that in 2021, the ‘Macrista’ pandemic cost the state more than the Covid-19 pandemic,” Cristina wrote in a blog on Tuesday (18).
She said payments to the IMF for the year exceeded Covid-19 relief spending, citing figures indicating that loan repayments cost 1.1% of GDP (Gross Domestic Product), versus 0.9% for Covid-19 assistance. 19.
Reuters was unable to verify the details of its calculations.
The IMF allocated more than US$4 billion (R$22 billion) to Argentina when it allocated more than US$650 billion (R$3.5 trillion) to its members last year. The Fund did not immediately respond to requests for comment.
Argentina is racing to close a deal with the IMF before the end of March — with about $18 billion due this year, according to the current calendar. The two sides do not agree on how quickly the country should reduce its fiscal deficit.
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