Letter to the Editor: A Novel Idea for Argentina & the IMF
Using IMF “surcharges” to fund environmental protection projects could help ensure a lasting deal, the authors write.
The International Monetary Fund and the Argentine authorities announced in January that they had reached an understanding regarding the refinancing of the roughly $44.5 billion loan that the lender extended during the tenure of former President Mauricio Macri. As Alejandro Werner noted in his Feb. 14 article for AQ, “Argentina and the IMF: A Never Ending Story,” the agreement has been widely criticized for its anemic fiscal adjustment conditions. The credit rating agency Moody’s went so far as to predict that “the likelihood of a new [private sector] debt restructuring remains very...
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