May 21, 2013
Lorenzino bashes IMF 'economical recipes'
Economy Minister Hernán Lorenzino bashed the International Monetary Fund (IMF) by assuring that “its recipes include unemployment, higher taxes and level of international indebtedness.”
The fiery comments came in face of the IMF censuring Argentina for the quality of statistics gathered by its national statistics bureau (INDEC), plus the harsh echoes coming from opposition ranks that are demanding President Cristina Fernández de Kirchner and the bureau’s statistics to be modified in order to reflect reality.
“We all know the economical recipes recommended by the IMF staff: adjustments, massive lay-offs, higher taxes, and higher indebtedness”, the minister wrote on his Twitter account.
Likewise, the official cited Economics Nobel prize winner Paul Krugman who said “those who defend fiscal adjustments as the perfect anti crisis remedy can’t find a single case in which this theory of them has effectively work.”
Furthermore, Lorenzino stressed that “If the IMF is so worried about the credibility of statistics, they should take a look on how Wall Street altered all balance sheets in 2009.”
To end, the Minister wrote “I wonder where the IMF sanctions to England for having manipulated the Libor rate are?”