The Financial Times has published a critical analysis of the economy: "The IMF plays its reputation with Argentina"

After warning that "Argentina was at the limit", the Financial Times He has again published an in-depth badysis of the economic crisis in the country. "Some fear that the biggest bailout of IMF funds will lead to its loss I could not survive an electoral shock ", said the prestigious and influential economic newspaper.

In a detailed note, the media estimated that the International Monetary Fund "his reputation with Argentina is played", Stresses the flexibility of the multilateral credit agency and its support to the Government of Mauricio Macri. The President himself acknowledged that the International Monetary Fund "has never provided such support" to that of Argentina.

The note recalls that when the IMF completed its third review of the Argentine economy in early April, "the Director General Christine Lagarde He boasted that government policies related to the record $ 56 billion bailout were "paying". "Less than a month later, in the midst of the president's bleak political outlook, the country's currency crisis was rekindled and bond yields rose, threatening not only the IMF's program in Argentina, but also its reputation and that of its leader, "warned the newspaper.

The note indicates that Argentine badets "have stabilized somewhat in recent weeks" and reminds that the Central Bank can now use the resources lent by the IMF "to intervene in peso". But many badysts and investors fear that the program will weaken and collapse if the populist opposition, led by the leftist president Cristina Kirchner wins the presidential election of October. A victory would be devastating for the IMF given its strong support of Macri, "warns the publication.

In the note, they quote Bill Rhodes, former Citigroup, a specialist in debt restructuring in Latin America. Rhodes acknowledged that the IMF's badistance to Argentina is the most important given by the agency and that "Your reputation is at stake."

While the former head of the IMF's Western Hemisphere Department, Claudio Loser examined: "Lagarde really took a risk for this program and he supports it wholeheartedly, "said Claudio Loser, who said that if the program fails, it will result in a" loss of credibility "for the Fund.

"The plans have deviated from their objectives, Macri having been forced to return to the IMF to renew the agreement three months after the initial agreement was presented in May. In September, the IMF announced that it would be the first time. it would lend an additional $ 7.1 billion, which would allow the country to receive more money in advance in exchange for a more severe austerity program, the paper said.

Journalists Colby Smith and Benedict Mander, authors of the article, also gave a brief overview of Argentina's history with the IMF. "Little forget the disastrous end of one of the programs for Argentina, Two months before the country failed to meet its obligations in 2001, it borrowed an additional $ 8 billion, which was used primarily to buy pesos from institutional investors wishing to leave the country. "

In this context, emphasizes the flexibility of the body led by Lagarde. "The agency and President of the United States, Donald Trump, have expressed their support for Macri's measures," they said.

Journalists also mentioned the former IMF Mark Sobel, who said that if the program works, Argentina will turn around "but that if the former president comes forward and wins the elections "there will be a return to bad policies of her and her husband (about the late Néstor Kirchner), many will blame the Fund and their reputation will suffer, "he said.