After Massa and Alberto Fernandez’s trip to Washington; The Fund’s board of directors formalized the approval of the fourth review of the agreement to pay the fraudulent debt of Macrismo. The modification in the reserve accumulation target due to the drought was authorized, but the fiscal target is maintained. This implies a greater adjustment, in the midst of a burdensome economic and social situation with 18 million poor people.

This Friday, the Board of Directors of the International Monetary Fund (IMF) confirmed that it concluded the fourth review of the agreement signed with the Argentine Government. It corresponds to the goals established for the fourth quarter of 2022.

This confirmation implies ratifying the course of adjustment that the Argentine Government has been carrying out, through the policies designed in the Ministry of Economy headed by Sergio Massa. Adjustment policies that, however, have the endorsement of the whole of the Frente de Todos.

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This approval implies the immediate disbursement of US$5.4 billion. The same will be used to pay the debt with the same Monetary Fund. There is nothing to celebrate in this agreement. On the contrary, it is leading to a situation of increasing economic instability and impoverishment of the great masses.

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Economy / IMF / Sergio Massa / Adjustment


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