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The President of Argentina, Mauricio Macri affirmed today that the International Monetary Fund (IMF), with which the country has just signed a agreement of financial badistance, is not Argentina to "do something good" for its economy
In an act for the 164th anniversary of the Buenos Aires Stock Exchange, Macri questioned the criticism that some political and union sectors address to the IMF and ruled that the multilateral organization is not "bad" but "an institution that is voluntarily approached".
"The Fund It wants to help us do something that is good for us How will it be bad for us to achieve a balance that allows us not to depend on the good winds of the world?" He argued
Argentina sealed last month with the IMF a three-year agreement by which the South American country will be able to access credits for 50 billion dollars [19659002] The agreement includes ambitious targets to reduce inflation and reduce the primary fiscal deficit until reaching equilibrium.
Argentina IMF asked to negotiate this agreement despite the severe turbulence in its markets that began in late April and led to a sharp depreciation of the Argentine peso which had an impact on the rise in inflation.
This situation may arise on markets, which consider that the risk of Argentina is higher than they want to badume, and the markets decide, "admits Macri in an open dialogue with the President of the Republic. on the stock market, Adelmo Gabbi
For the head of state, the agreement sealed with the IMF is a "grand demonstration of all the leaders of the world that they trust the direction taken by Argentina. "
"We went to the Fund because the turn of the market and the flight from the market required that we have someone to support us.We must thank the Fund for accepting our plan (reducing the deficit tax, "he said.
On the direction of the economy, the president reiterated that excessive spending by the state result in higher inflation or force
According to Macri Argentina went through these months with a "storm" produced from an "external shock" for not being well prepared "perhaps by a false opinion" of the government "having" wanted to very gradually reduce public spending but quickly inflation.
"This, before the first storm, found us in a very vulnerable situation," he admitted.
"I do not doubt one of us Despite all the storms and problems we have experienced, we are on the right track, and most importantly, we are doing the right thing," said the President. EFE
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