Buenos Aires (AFP) 02/09/2022 09:36
Thousands protest in Argentina against an agreement with the IMF to repay a $44 billion loan
- Demonstrators denounced the agreement with the IMF.
- The Argentine president announced a new agreement with the International Monetary Fund to reschedule a $44 billion loan.
Thousands protested in Buenos Aires against the agreement reached by the government of the center-left President Alberto Fernandez and the International Monetary Fund to repay a $44 billion loan, as activists from about 200 organizations gathered in front of the government palace or “Casa Rosada” to denounce this decision.
As announced by the chief Argentinians Previously, last January, a new agreement with the International Monetary Fund was announced to reschedule a $44 billion loan granted in 2018 to the government of his predecessor, Mauricio Macri, and under the new agreement, Argentina committed to gradually reducing its fiscal deficit from three percent in 2021 to only 0.9 percent in 2024.
On the other hand, MP Mirianne Bergman of the Left and Workers Front told AFP that Fernandez’s government should “remember Argentine history: all agreements with the International Monetary Fund since 1983 have brought chaos, ending with (structural) adjustments, hyperinflation and massive social crises. “.
Vilma Ripoll, also a leader in the “Left and Workers Front”, said that the agreement “has nothing to do with the needs of the people, but is related to illegitimate and unpayable debts.” The agreement is still awaiting approval in Congress, where the ruling coalition has a majority but does not have a majority.
The government hopes to set the terms of the new agreement before March 22, before it owes Argentina a $2.85 billion payment that it cannot pay, according to Economy Minister Martin Guzman.