Due to capital flight, $ 8 out of every 10 borrowed from the IMF loan

A clear example of the economic failure of the government, since Argentina and the IMF signed the confirmation agreement, eight out of ten dollars that entered the country escaped. Currency outflows exceed $ 36 billion.

The Public Policy Observatory of the National University of Avellaneda (UNDAV) revealed this worrying fact. To date, the agency's disbursements have amounted to US $ 44,867 million, while leakages – between those of the formal system and those of speculative capital – amounted to US $ 44,867 million. $ 36.640 million.

The report said the IMF "financed the flight of capital in a clearly unsustainable way and violated the principles set out in its own Constitution". Similarly, the paper pointed out that the agency had failed in projections of GDP growth, inflation, level of interest rates and volume of international reserves.

The GDP growth estimated by the Fund was 1.5% and decreased by 1.3%. Meanwhile, he predicted inflation of 17%, but it is already 54.4%.

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In acting interest rates, they were expecting a level of 22.5% and now reach 85.3%. As for international reserves, they had reserves of US $ 69 billion, but they are now estimated at US $ 54 billion.

"The same government recognizes, even before the loan is fully disbursed, that Argentina will have obvious problems to comply with commitments made on time," the report concluded.