"The IMF can no longer fail, it will be more cooperative with Argentina"

Mario Blejer, former president of the Central Bank and former head of the IMF's Western Hemisphere, is betting that the agency will be more lax with Argentina when renegotiating the deal.

And this illustrates the role that the IMF will have in its relations with Argentina. He says so: "If you owe $ 5,000, that's your problem, but when your debt is $ 57,000 million, the problem is the creditor, in this case the IMF."

In an interview with Clarín newspaper, the economist explained that the IMF loan did not only have an impact on its scale. Also, for its meaning. The Fund sought repayment through this loan for Argentina. He tried to send a message to the world about a profound change in the institution.

And he felt that the IMF should give this message because "it failed even with Argentina because of its adjustment policies.And this time, the loan envisaged a deficit to validate larger social spending. ".

He now believes that "there will be more thinking with the country and a negotiation in which both parties will need a happy ending, not to fail again." In this loan, many officials of the IMF have played all their lives. "

Christine Lagarde, who has just left the agency, is one of those responsible. For Blejer, "another failure with Argentina can end forever with its political aspirations that encompbad not only the presidency of the European Central Bank, but also the presidency of France".

At this point, he points out in the morning that "the IMF will not create any difficult conditions.It will attempt to consolidate austerity and manage spending, but will be more cooperative and dialogue much more easily than it will be." Other occasions ".

As for the trajectory that the economy will follow until the October elections, it says that "there was a surprise on the results of the PASS and an unexpected market shock because of this surprise.The markets acted. We go. "To see a process where the variables will be normalized. It is important that the government make a great effort to restore confidence. "

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