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News > Argentina

Argentina's Main Problem is the IMF Debt: VP Fernandez-Kirchner

  • Vice President Cristina Fernandez-Kirchner, June 15, 2023.

    Vice President Cristina Fernandez-Kirchner, June 15, 2023. | Photo: Twitter/ @Letra_P

Published 16 June 2023 (1 hours 45 minutes ago)
Opinion

Thousands of workers held marches in Buenos Aires to demand an emergency wage increase and reject IMF interference in the country's economic policy.

On Thursday, Vice President Cristina Fernandez-Kirchner reiterated that Argentina's main problem is the US$45 billion debt contracted by former President Mauricio Macri (2015-2019) with the International Monetary Fund (IMF).

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"We need to conscientiously promote a dialogue between all political forces to address the issue of indebtedness with the IMF because that is Argentina's main problem, and we did not cause it," she said.

"We desperately need to end the bi-monetary economy," Fernandez-Kirchner said, alluding to the informal dollarization that generates currency speculation and domestic inflation.

"We need a national and patriotic stance against those who demand that we implement adjustment programs," she added, emphasizing the need to renegotiate with the IMF.

"We have to solve the problem of the shortage of dollars in Argentina. We need dollars not only to pay off private debt and multilateral debt but also to sustain the industry and create added value," Fernandez-Kirchner said.

The Leftist leader also explained that commodity exports would not be enough to remedy the shortage of dollars that the middle class complains about. The Argentine middle class is the social group that most demands foreign currency.

On Friday, thousands of workers held marches in Buenos Aires and other cities to demand an emergency wage increase and reject IMF interference in the country's economic policy.

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