Argentina ´s Fernandez says country will struggle to repay IMF loan
Argentina under President Mauricio Macri signed a stand-by agreement with the IMF in mid-2018 for $57 billion, pledging in return to implement a significant fiscal adjustment, a pact Fernandez described as 'harmful.'
Argentina under Macri signed a stand-by agreement with the IMF in mid-2018 for $57 billion, pledging in return to implement a significant fiscal adjustment, a pact Fernandez described as “harmful.”
Argentine markets collapsed in the week after Fernandez, who has former center-left ex-president Cristina Fernandez de Kirchner as his running mate, came in around 15 points ahead of Macri in the primaries, a result that leaves him in a strong position to win the October election without a second round.
Fernandez, who during the campaign said that the dollar was being held at a “fictitious” value, urged Macri in the Clarin interview to heed the call of the central bank to safeguard its international reserves.
“If I finish my term and have inflation down to a single digit, I will be very happy. That’s four years of hard work,” he said.Read more: Eyewitness News
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