Argentina’s president-elect rejects remaining IMF money

Photo: AP

Fernandez to IMF: “let’s discuss the time I need to get the economy back on track, but don’t give me more money.”

Argentina’s elected President Alberto Fernández announced that he will not ask the International Monetary Fund (IMF) for the remaining amount of money not yet received from the US$11 billion IMF’s loan to the South American country.

Fernandez, who will assume the presidency of Argentina on December 10, said that “the solution to the problems” of his country “is not to take more debt. “If you have a problem because you are very indebted, I believe that the solution is not to continue indebting yourself.”

He indicated that he does not want to “enlarge” Argentina’s debt problem anymore, but that he will try to solve it. He mentioned the only agreement he would like to sign with the IMF: “don’t lend me more money, but let me develop, to be able to pay you.

Fernandez said that it is necessary to “manufacture again, give credits so that production can be reactivated, give money to retirees so that they can consume” and thus reactivate the economic system.

The IMF’s agreement with the Argentinian government of Mauricio Macri reaches 56.3 billion dollars. However, 44.3 billion dollars were expended, leaving 12 billion dollars to be liquidated.

Sources: teleSUR, RT, Pichincha Universal.

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