The IMF’s $43 Billion Argentina Problem Is About to Get Worse
Great-power politics helped keep IMF credit flowing to its top borrower. But with the economy in crisis on the eve of elections, that may not last
Over the past five years, the Fund has lent $43 billion in repeated bailouts for the Latin American nation — multiples more cash than anyone else has gotten — with dismal results.
IMF doled out another $7.5 billion installment in August, even though Argentina hadn’t met any of the economic targets that were supposed to be conditions for payment.
The country’s current debt pile to the IMF a hangover from the $56 billion credit line — still the biggest in IMF history — handed to then-President Mauricio Macri in 2018 and 2019.
Questions may also be asked about the IMF’s record-breaking rescue package for Argentina,
with which its outgoing director Christine Lagarde was closely associated.
https://englundmacro.blogspot.com/2019/08/argentinas-48-stock-rout.html
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