April 26, 2017
Wednesday, April 9, 2014

'IMF recommendations led to Argentina's worst crisis'

Cabinet Chief Jorge Capitanich addresses reporters at the government house.
Cabinet Chief Jorge Capitanich addresses reporters at the government house.

The “ideological bias” of IMF analysts has never changed with the recommendations by the international credit organism prompting the "worst" social and productive crisis in the history of the Republic of Argentina, the cabinet chief has said responding to an IMF report that questions the South American country’s economic prospects for 2014.

In his daily brief to the press, Jorge Capitanich blasted yesterday’s report by the International Monetary Fund (IMF) that foresees a steep deceleration of Argentina’s economic activity for this year in a context of “high uncertainty,” targeting IMF analysts’ “ideological bias.”

“Fortunately, ex president Néstor Kirchner made a decision and that was to have autonomy in economic decisions,” the head of ministers affirmed alluding to the decision made by late husband of now president Cristina Fernádez, Néstor Kirchner, who defied the IMF and refused to accept its debt conditions.

“We owe not a dollar to the IMF and it can not condition the exercises of the country’s economic policy,” Capitanich warned and accused the credit organism of “recommendations that caused Argentina’s worst economic, social, fiscal and financial crisis,” in reference to the 2001-2002 social outburst andhistorical record sovereign default on $95bn of debt.

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Tags:  Jorge Capitanich  cabinet chief  IMF  debt  Argentina  economic  

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