(Buenos Aires) Several thousand supporters of the left in Argentina marched on Tuesday in Buenos Aires to denounce the agreement reached between the center-left government of President Alberto Fernandez and the International Monetary Fund (IMF) on the repayment of a loan of $44 billion.
Posted yesterday at 6:58 p.m.
With the slogan “No to the agreement with the IMF, no to the payment of the external debt”, the militants of around 200 movements and associations gathered in front of the palace of the government, to demand the breakdown of negotiations with the international institution, noted AFP.
The government of President Fernandez must “remember Argentine history: all the agreements with the IMF since 1983 have brought chaos, ended in adjustments [structurels]hyperinflation and huge social crises,” said Myriam Bregman, MP for the Left and Workers Front (FIT).
The government “needs to prove why it would be different” this time around, she added.
On January 28, the Argentine president announced an agreement in principle with the IMF on the rescheduling of a 44 billion dollar loan granted in 2018 to the government of his center-right predecessor, Mauricio Macri (2015-2019).
The agreement provides for deadlines up to 2036 in return for economic reforms, in particular a gradual reduction in the budget deficit and control of inflation.
According to the government, this agreement will not affect social spending or economic growth.
The agreement “has nothing to do with the needs of the Argentine people, but with an illegitimate and unpayable debt”, denounced Vilma Ripoll, another FIT official.
The deal still needs to be ratified by parliament where the ruling coalition represents the largest group but does not hold a majority.
The government hopes to define the terms of the new financing program before the March 22 deadline, where 2.85 billion dollars must be reimbursed by Argentina which cannot afford it, according to Minister of Economy Martin Guzman.
After three years of recession, the last two of which were linked to the impact of the COVID-19 pandemic, the Argentine economy experienced a strong rebound in 2021, with 10.3% growth for the first eleven months of the year. year (4% planned for 2022).
But inflation remains very high, at around 50.9% for 2021 (33% for 2022), as well as poverty, which affects 40% of the population.