Obvious responsibilities | IMF recession

However, Christine Lagarde has just said that "the program really works". Then he escaped from the post-truth book and said, "It would be foolish for any candidate to turn his back on the work in progress." A provocatively provocative tone that crystallizes the body's clear political support for Mauricio Macri and his ideas.

In a pbadage from a recent presentation by the Fund's Chief Economist, Gita Gopinath, it is written: "A year ago, economic activity was accelerating in almost all Since then, many things have changed: the escalation of trade tensions between the US and China, the restraint of credit needed in China, the macroeconomic tensions in Argentina and Turkey, the upheavals of the auto industry in Germany and the contraction of financial conditions Events in parallel with the normalization of the monetary policy of the major advanced economies have contributed to a significant weakening of global expansion, but together, Argentina and Turkey accounted for only 1.4% of world GDP in 2017, and our country in particular participated with 0.56% .The inclusion of these economies, as causes of global weakness, seems disproportionate Onnée.

In the framework of the Joint Assembly with the World Bank, in its usual report on the World Economic Outlook (WEO), the IMF said: "The prospects for convergence are daunting for some 41 economies of the world. Emerging and developing markets, which generate almost 10% of global GDP (…) and have a total population of almost 1 000 million inhabitants, are projected to have lower per capita incomes than advanced economies in the next five years ". The painful signs of a global economic system that aggravates inequality and in which the Monetary Fund itself has a clear responsibility.

In its commentary on what our country should do, the text states: "It is essential to continue the implementation of the stabilization plan as part of the IMF-supported economic reform program to strengthen investor confidence and confidence. to recover, sustainable growth that improves living conditions in all segments of society. " A steeper and steeper road.

The term trust is the cornerstone of the neoliberal system of thought. A very powerful tool used to condition countries in the periphery, which suffer from capital outflow and the loss of value of their currencies. But as hedge funds and investors never settle, the list of tasks never stops. In the case of Argentina, the existence of a deregulated economy almost completely, particularly with regard to the free entry and exit of funds, indicates that the government is clearly responsible.

If we badyze in detail the content of the executive summary of the WEO, which includes three pages, it is observed that twelve terms are mentioned, such as uncertainty, contagion, trust, optimism and encouragement. Nothing is said about categories such as wages, income distribution or poverty. The consistent badysis of the causal mechanisms that affect growth is notable by its absence. It is feared to be entrusted to this type of managers. Four more years of these policies would leave untold damage.

Responsibilities can no longer be hidden. Given this, the horizon to be reached is another: without mysteries, it is imperative to return to the path of a system that focuses on the needs of citizens and not those of large corporations and external speculators. You have to change the model.