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News > Argentina

Argentina: Massive Marches Against International Monetary Fund

  • Citizens protest against the International Monetary Fund, Buenos Aires, Argentina, Feb. 12, 2020.

    Citizens protest against the International Monetary Fund, Buenos Aires, Argentina, Feb. 12, 2020. | Photo: EFE

Published 12 February 2020

The Argentines repudiate the payment of a debt that former President Macri hired to benefit the elites.

Argentina's social movements, political parties, and unions will march Wednesday to protest against the International Monetary Fund (IMF), which arrives in Buenos Aires to review the country's public accounts to renegotiate the external debt with President Alberto Fernandez.


Argentina Will Not Pay IMF Debt Until Recession Has Ended

"We support the negotiations with the warning that we are not willing to pay the debt with hunger and unemployment", the Union of Workers of the Popular Economy (UTEP) President Esteban Castro said.

This social leader also explained that the IMF is responsible for Argentina's huge foreign debt because it lent former president Mauricio Macri "unviable amounts" at a time when there was no production.

In Buenos Aires, marches will move towards the Plaza de Mayo and the National Congress where the Economy Minister Martin Guzman will explain the current situation of Argentine indebtedness.

Among the organizations that called for demonstrations are the General Confederation of Labor (CGT), the Autonomous Central of Argentinean Workers (CTA), the National Federation of University Professors (Conadu), the Communist Party, and the Territorial Liberation Movement (MTL).​​​​​​​

In the photo above: "Salta city mobilizes against the IMF. The IMF is poverty. The debt is with the people." In the photo below: "In Buenos Aires, in front of the door of the Stock Exchange, people protest against the MFI's policies and its visit to Argentina.

“The Fund may change its officers but its nature will never change. Their loans and programs have always been a tool to dominate and subordinate the nations,” CTG spokesperson Juan Carlos Schmid said and added that the mobilizations will have the slogan“ Debt is with people.”

In a press conference held on Tuesday, CTA leaders Ricardo Peidro and the National Bank director Claudio Lozano requested that the uses of Argentina's external debt be thoroughly investigated​​​​​​​.

Currently, there are indications that the Macri administration (2015-2019) would have committed crimes related to the breach of functions ​​​​​​​and abuse of authority in contracting debt.​​​​​​​

In that sense, for instance, Lozano is promoting a criminal complaint against former Finance Minister Nicolas Dujovne.

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