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  • Fernandez: “let's discuss the time I need to get the economy back on track, but don't give me more money.”

    Fernandez: “let's discuss the time I need to get the economy back on track, but don't give me more money.” | Photo: REUTERS

Published 26 November 2019

Fernandez to IMF: “let's discuss the time I need to get the economy back on track, but don't give me more money.”

Argentina's elected President Alberto Fernández announced on Tuesday that he will not ask the International Monetary Fund (IMF) for the remaining amount of money not yet received from the US$11 billion IMF's loan to the South American country.

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Fernandez, who will assume the presidency of Argentina on December 10, said in an interview on Radio that "the solution to the problems" of his country "is not to take more debt.

"If you have a problem because you are very indebted, I believe that the solution is not to continue indebting yourself", emphasized the elected president.

He indicated that he does not want to "enlarge" Argentina's debt problem anymore, but that he will try to solve it. He mentioned the only agreement he would like to sign with the IMF: "don't lend me more money, but let me develop, to be able to pay you.

“let's discuss the time I need to get the economy back on track, but don't give me more money.”

I'm not going to sign agreements we can't keep. Macri already did that. With the IMF I am going to sign a single agreement and the first rule is to stop asking for money. We need to reactivate the economy in order to be able to pay and solve the debt problem sensibly", @alferdez

He clarified that the Argentinian economy has been paralyzed for more than two years with a fall in consumption.

In that matter, Fernandez said that it is necessary to "manufacture again, give credits so that production can be reactivated, give money to retirees so that they can consume" and thus reactivate the economic system.

"The economy has been paralyzed for more than two years with a fall in consumption. We have to go back to manufacturing, give credits to reactivate production, give money to retirees to consume. We have to do what here is called Peronism", @alferdez by @radioconvos899

The IMF's agreement with the Argentinian government of Mauricio Macri reaches 56.3 billion dollars. However, 44.3 billion dollars were expended, leaving 12 billion dollars to be liquidated.

Last September, a disbursement of US$5.7 billion was planned, but it came to a standstill after Macri's defeat in the primary elections held in August.

According to an official report released on Monday by the Ministry of Finance, 83 % of the credit was used to pay off foreign debt. Of the money sent by the international organization, only a little more than 1.9 billion dollars remain in power of the government.

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