The IMF admitted to underestimating the complex economic situation of Argentina

The Managing Director of the International Monetary Fund (IMF), Christine Lagarde, said today that the agency in charge "underestimated" the "complicated" situation of Argentina at the beginning of the program with the multilateral credit agency and stressed "the very hard legacy" that President Mauricio Macri has received from the Kirchner administration.

The Argentine economy "has shown an incredibly complicated situation," where "several actors, including myself, have underestimated the situation" when the country's financing program began to be negotiated, Lagarde said in Washington, DC. an American Enterprise Institute interview.

In her speech, the President of the IMF stressed that despite the difficulties, she now had "hopes" about the future of the Argentine economy.

If "the implementation of the current program continues", there will be "reasonable reasonable hope" that the economy will recover, said the IMF director.

Lagarde pointed out that there was a "very severe legacy" from the government before Mauricio Macri, that "inflation" was much more resilient than we had thought "and that controlling it" was taking a lot more than time than expected.

However, the economy "has improved and will continue to improve" and with "the money supply as an anchor", the program "will succeed so far for Argentina and Europe. the Argentine economy, "he said.

Lagarde pointed out that he saw Macri "very committed to the program" aimed at achieving balanced budgets this year, in exchange for securing $ 57,000 million in credits to pay financial obligations contracted until 2020.

Lagarde also said that "we are not here to support, anticipate or fear any political change", referring to the upcoming presidential elections, "we are here to help the economy and the people." These are the guiding principles that we have It is up to the peoples of all countries to decide their future. "