On April 11 of this year, the Government of Javier Milei signed an agreement with the agency. On July 31, the IMF approved the first review and in its official statement highlighted “the solidity in the execution of policies.” Less than five months passed since April 11 and less than two months since the IMF praised the “solidity.” Now everything solid fades in the air. The plan shipwrecked.
It is not new. The same happened with Macri: on June 20, 2018 he reached an agreement. Macri said we were going to fall in love with Christine Lagarde, then the IMF managing director. Thanks to the intermediation of Donald Trump, Argentina obtained the largest loan in the organism’s history, for 45 billion dollars. There was no approval in Congress, administrative procedures were not followed. The IMF lent above what corresponded and let the dollars are used to finance capital escape. Tudo Bom, all legal?
Two months later, on August 29, with the first agreement shipwrecked, Macri announces a second agreement. And in September 2018, the Central Bank, Luis “Toto” Caputo renounces, after financing a gigantic leakage and being ejected by pressure from the background itself. In the middle of the chaos created by its policies, the fund extended the loan to Macri about 55 billion. It is known, in the macrismo, 86 billion dollars escaped, the richest in the country to tax havens were taken.
In social terms, the result is clear: poverty climbed from 25% in 2017 to 35% in 2019. The IMF regime is a factory to generate poverty.
Do you remember Martín Guzmán? He signed a fantastic agreement: he was going to allow Argentina to grow. In the early hours of March 11, 2022, the Chamber of Deputies buried the “never again” to the debt that raised everyone’s front in the 2019 campaign and endorsed the new agreement.
The CGT supported. Massa brought together the necessary votes for the change. The composition of the Budget Commission was modified so as not to locked the agreement and was approved in the enclosure.
Four months later he wreck the agreement and Guzmán left. Argentina did not grow and entered into recession in 2023. That usuria debt had to be faced, in the enclosure and on the street. It wasn’t time for tibiezas, now either.
The current program failure is evident. You don’t have to be an economist, you have to study history.
The central piece of the agreement reached by Milei was the accumulation of reservations in the Central Bank to pay the odious debt. But the net reserves of the central are in negative terrain in about 8,000 million dollars.
According to data from the Ministry of Economy, in 2026, the country has debt maturities for $ 19,667 million (US $ 11,687 million capital and US $ 7,981 of interest). It is unpaid unless a brutal devaluation generates a large commercial surplus so that the Central Bank adds dollars. It is what the IMF wants. It is perhaps what they ask Milei during his visit to Washington to request the assistance of the Yankee Treasury, in addition to other demands in favor of the geopolitical interests of the United States.
The devaluation is known, is first of all a devaluation of the salary to reduce the workforce.
Milei operates desperately, as a fiscal degenerate. He removed the retentions of Agropower. Wasn’t it that the fiscal surplus is not negotiated? Of course, but that criterion is worth when it comes to a budget for the emergency in disability, pediatrics or for universities.
Some estimates point out that Agropower could save about US $ 1.4 billion to pay withholdings …
Minutes ago, the already devalued spokesman Adorni, announced “that there will be zero retentions also for the export of poultry and bovine meats until October 31, 2025”. This measure will hit some products that are very consumed by families.
Argentina has the future generations mortgaged by the mega -debt policies to which Macri, Milei and Caputo submitted it in recent years. That debt is a scam where he looks at her. Mobilization must be promoted to establish sovereign ignorance. And put in the center the demands of the workers, of the middle sectors, of the popular sectors.
We do not say that it is easy, only the truth to get out of this circle of impoverishment.
Another IMF program that fails. The end is written.
On April 11 of this year, the Government of Javier Milei signed an agreement with the agency. On July 31, the IMF approved the first review and in its official statement highlighted “the solidity in the execution of the…
— Myriam Bregman (@myriambregman) September 22, 2025
Source: www.laizquierdadiario.com
