This Monday, Kristalina Georgieva described as “reasonable” the government’s request for a first “considerable” disbursement. It would be a first shipment for US $ 8000 million, 40% of the new indebtedness of US $ 20,000 million. The main directive of the agency added based on the request of Milei and Caputo that “they have earned it, given their performance”, praising the brutal adjustment of the libertarian management.
The IMF managing director assured in an interview with the Reuters agency, which hopes to close the new agreement, before the next spring meetings of the World Bank and the World Bank between April 21 and 26.
The Minister of Economy, Luis Caputo, had declared that he requested more for a reason: “In a traditional agreement disbursements are made in exchange for goals. In our case we already did it”, referring to having done the duties that the background asks for: adjustment and austerity measures.
The hurry of the officials headed by Caputo to enter as soon as possible the largest amount of “fresh dollars” of the IMF, is that the Central Bank does not stop losing reservations. This Monday was the tenth negative day for the BCRA which sold $ D 143 million and closed the month of March with a red of US $ 2943 million loss. So far this year already dilapidated US $ 455 million and gross reserves descended to US $ 25,052 million. Located net reserves in a negative field close to US $ 10,000 million.
The short legs of the Caputo 2 plan
The former Minister of Macri and current from Milei, Luis Caputo, set up a financial bicycle – bonds in pesos with a “stable” dollar (post the strong devaluation of December 2023) -, which allowed speculators to obtain very high rates in dollars. With Macri it was similar and at that time Milei denounced him as a scam, as a “mortgage to the next generations”, an Econochanta.
Milei, Econochanta number 1. Look what he said of the IMF. pic.twitter.com/ktiADGKBMu
– Nicolas del Caño (@nicolasdelcano) March 31, 2025
The government sought to support an artificial exchange anchor to lower inflation. Contain bankers and entrepreneurs with attractive rates, the “financial timba”, so that they do not go to the dollar while downloading a brutal adjustment to the majorities to guarantee the fiscal chain that requested the fund. In recent days, bankers and speculators began to disarm their positions in pesos and dollarize them in the face of the growing expectation of devaluation, thus the BCRA has already been burning 10 consecutive days burning reservations. While the economic crisis is climbed, with the country’s risk increases that today exceeded 800 points, Maruricio Macri appeared on behalf of the national bourgeoisie that presses by a devaluation.
This Sunday night Caputo appeared again in the media to try to calm the nervousness installed in the “markets” that has been expressed in a considerable increase in parallel dollars. The “Blue” has already exceeded $ 1300 and the gap is greater than 20% with the officer, something that could move at prices. Another problem that remains with inflation that seems to have entered an ascending curve, is expected that the March measurement will exceed February.
In the middle of the election year ahead, Milei and Caputo seek to close the new program with the IMF and reach October without shocks. The background knows and also plays with that to get the maximum possible revenue from this new program, political support is not free. What you have to start questioning is who is going to pay that new indebtedness and escape party?
This time it can be different, not to the IMF
The left is the only political sector that openly raises the impossible need to reject the covenant with the IMF, to end the scourge that means for social majorities to live under the boot of this organism. The IMF returned 7 years ago, by the hand of Mauricio Macri, he was legitimized in Congress in 2002 by Peronism, and this new program of extended facilities would guarantee at least 10 more years.
Specifically, this translates into the continuity of spending adjustment, which is lower silver for health, education, public works, tariffs in services (light, gas, transport, water), layoffs of public employees. Continue sinking retirement and pensions, which since the IMF returned lost 50 % purchase power. But it also gives free way to a new wave of privatizations of public companies and structural reforms. And the delivery of natural goods considered strategic to US companies, such as lithium.
Milei and Caputo prepare this looting in hidden, the employer of radicals, Peronists and the PRO have already voted for a blank check with the DNU 179/25. Therefore, the agreement is absolutely illegal and unconstitutional. It is taken behind the working people and against their interests. Faced with the economic crisis that continues to accelerate, it is time to organize a massive resistance and mobilization in the streets to throw down the Milei and IMF adjustment pact, endorsed by the employer opposition and businessmen. Only the left proposes as an exit to this crisis the non -payment of the odious debt, which is still paid without even being investigated. The scams are not paid!
The nationalization of the banking system and foreign trade under workers administration, are complementary measures that would allow the great capital escape and speculative maneuvers, which feed devaluative expectations. In addition, cheap credits could be generated for small trade and the working people and care for national savings. These measures are part of an approach that kicks the board for a background exit, to start planning the economy from below, depending on the needs of the great majorities and not of the profits.
Faced with the economic crisis that continues to accelerate, it is also necessary to demand an emergency increase for wages and retirement. No salary should be less than the basic family basket and no retirement can be behind the retiree basket. The union leadership has been complicit in this salary attack and retirement, it is necessary to demand a struggle plan until this adjustment plan, so that the April 9 and 10 days is not an isolated strike, demanding a general strike.
Source: www.laizquierdadiario.com
