Argentina criticizes IMF adjustment plan to break away from crisis

By Carlos Burgueño

Argentina criticized again the economic adjustment plan made by the IMF (International Monetary Fund) in order to break away from the world economic crisis.

The criticisms came from Economy Minister Hernán Lorenzino, who today at midday, in the midst of exposing the country’s position in the close of the debates of the IMF/World Bank Annual Spring Meetings in Washington, assured that “there is no data, article or report from the multilateral organizations that proves the economic adjustment policies give results.”

The minister also criticized the fact that “many of these plans are concentrated on recent findings and on structural reforms, particularly flexibility of jobs.”

Lorenzino said that “Argentina is the best example of committing this error, in that in the 90s they applied these measures, furthering the policy, and it reached a record unemployment rate with the worst recession in history,” and since 2003 “it is in a solid position of continuous growth with active policies.”

According to the minister, with these decisions “we were able to break away from important crises in 2008 and 2009.”

Lorenzino was participating in the IMF/World Bank Annual Spring Meetings in Washington.