Argentina’s Vice President Cristina Fernandez de Kirchner has accused the International Monetary Fund (IMF) of stifling the country’s economy.
Fernandez de Kirchner, speaking at an event commemorating Revolution Day in Buenos Aires’ historic Plaza de Mayo, said the debt is impossible to pay off.
The vice president, who was speaking with Economy Minister Sergio Massa, who is attempting to steer the $44 billion initiative in the right direction, said: “If we are do not set aside this program to develop our own plan for growth and industrialization, it will be impossible to pay for.”
She said the original deal was “political” and that the IMF program does not allow the country to distribute wealth.
The government’s ruling coalition is attempting to shore up support from the IMF and advance payments ahead of October elections.
The South American grain producer has a tumultuous relationship with the IMF. Under former conservative leader Mauricio Macri, the country committed to a $57 billion deal with the Washington-based agency in 2018 to avert an economic crisis. This collapsed and was replaced by a proposal to refinance the $44 billion in outstanding debt last year.
Fernandez de Kirchner, 70, a veteran on the left of the ruling Peronist party who served two terms as president between 2007 and 2015, called the original deal “scandalous” and a “scam” last week.
Her speech comes as Massa and his team are negotiating with the IMF to bring forward the disbursement of loans agreed to in 2022. A historic drought has hit grain exports, Argentina’s top source of dollars, forcing both sides into talks to potentially revamp the deal.
The government wants faster payouts and easier economic targets as it works to rebuild reserves needed to cover trade costs and future debt repayments.
Massa is due to travel to China on May 29 to potentially expand Argentina’s currency swap line with Beijing.
Argentina’s Vice President Cristina Fernandez de Kirchner has accused the International Monetary Fund (IMF) of stifling the country’s economy.
Fernandez de Kirchner, speaking at an event commemorating Revolution Day in Buenos Aires’ historic Plaza de Mayo, said the debt is impossible to pay off.
The vice president, who was speaking with Economy Minister Sergio Massa, who is attempting to steer the $44 billion initiative in the right direction, said: “If we are do not set aside this program to develop our own plan for growth and industrialization, it will be impossible to pay for.”
She said the original deal was “political” and that the IMF program does not allow the country to distribute wealth.
The government’s ruling coalition is attempting to shore up support from the IMF and advance payments ahead of October elections.
The South American grain producer has a tumultuous relationship with the IMF. Under former conservative leader Mauricio Macri, the country committed to a $57 billion deal with the Washington-based agency in 2018 to avert an economic crisis. This collapsed and was replaced by a proposal to refinance the $44 billion in outstanding debt last year.
Fernandez de Kirchner, 70, a veteran on the left of the ruling Peronist party who served two terms as president between 2007 and 2015, called the original deal “scandalous” and a “scam” last week.
Her speech comes as Massa and his team are negotiating with the IMF to bring forward the disbursement of loans agreed to in 2022. A historic drought has hit grain exports, Argentina’s top source of dollars, forcing both sides into talks to potentially revamp the deal.
The government wants faster payouts and easier economic targets as it works to rebuild reserves needed to cover trade costs and future debt repayments.
Massa is due to travel to China on May 29 to potentially expand Argentina’s currency swap line with Beijing.
Argentina’s Vice President Cristina Fernandez de Kirchner has accused the International Monetary Fund (IMF) of stifling the country’s economy.
Fernandez de Kirchner, speaking at an event commemorating Revolution Day in Buenos Aires’ historic Plaza de Mayo, said the debt is impossible to pay off.
The vice president, who was speaking with Economy Minister Sergio Massa, who is attempting to steer the $44 billion initiative in the right direction, said: “If we are do not set aside this program to develop our own plan for growth and industrialization, it will be impossible to pay for.”
She said the original deal was “political” and that the IMF program does not allow the country to distribute wealth.
The government’s ruling coalition is attempting to shore up support from the IMF and advance payments ahead of October elections.
The South American grain producer has a tumultuous relationship with the IMF. Under former conservative leader Mauricio Macri, the country committed to a $57 billion deal with the Washington-based agency in 2018 to avert an economic crisis. This collapsed and was replaced by a proposal to refinance the $44 billion in outstanding debt last year.
Fernandez de Kirchner, 70, a veteran on the left of the ruling Peronist party who served two terms as president between 2007 and 2015, called the original deal “scandalous” and a “scam” last week.
Her speech comes as Massa and his team are negotiating with the IMF to bring forward the disbursement of loans agreed to in 2022. A historic drought has hit grain exports, Argentina’s top source of dollars, forcing both sides into talks to potentially revamp the deal.
The government wants faster payouts and easier economic targets as it works to rebuild reserves needed to cover trade costs and future debt repayments.
Massa is due to travel to China on May 29 to potentially expand Argentina’s currency swap line with Beijing.
Argentina’s Vice President Cristina Fernandez de Kirchner has accused the International Monetary Fund (IMF) of stifling the country’s economy.
Fernandez de Kirchner, speaking at an event commemorating Revolution Day in Buenos Aires’ historic Plaza de Mayo, said the debt is impossible to pay off.
The vice president, who was speaking with Economy Minister Sergio Massa, who is attempting to steer the $44 billion initiative in the right direction, said: “If we are do not set aside this program to develop our own plan for growth and industrialization, it will be impossible to pay for.”
She said the original deal was “political” and that the IMF program does not allow the country to distribute wealth.
The government’s ruling coalition is attempting to shore up support from the IMF and advance payments ahead of October elections.
The South American grain producer has a tumultuous relationship with the IMF. Under former conservative leader Mauricio Macri, the country committed to a $57 billion deal with the Washington-based agency in 2018 to avert an economic crisis. This collapsed and was replaced by a proposal to refinance the $44 billion in outstanding debt last year.
Fernandez de Kirchner, 70, a veteran on the left of the ruling Peronist party who served two terms as president between 2007 and 2015, called the original deal “scandalous” and a “scam” last week.
Her speech comes as Massa and his team are negotiating with the IMF to bring forward the disbursement of loans agreed to in 2022. A historic drought has hit grain exports, Argentina’s top source of dollars, forcing both sides into talks to potentially revamp the deal.
The government wants faster payouts and easier economic targets as it works to rebuild reserves needed to cover trade costs and future debt repayments.
Massa is due to travel to China on May 29 to potentially expand Argentina’s currency swap line with Beijing.
Argentina’s Vice President Cristina Fernandez de Kirchner has accused the International Monetary Fund (IMF) of stifling the country’s economy.
Fernandez de Kirchner, speaking at an event commemorating Revolution Day in Buenos Aires’ historic Plaza de Mayo, said the debt is impossible to pay off.
The vice president, who was speaking with Economy Minister Sergio Massa, who is attempting to steer the $44 billion initiative in the right direction, said: “If we are do not set aside this program to develop our own plan for growth and industrialization, it will be impossible to pay for.”
She said the original deal was “political” and that the IMF program does not allow the country to distribute wealth.
The government’s ruling coalition is attempting to shore up support from the IMF and advance payments ahead of October elections.
The South American grain producer has a tumultuous relationship with the IMF. Under former conservative leader Mauricio Macri, the country committed to a $57 billion deal with the Washington-based agency in 2018 to avert an economic crisis. This collapsed and was replaced by a proposal to refinance the $44 billion in outstanding debt last year.
Fernandez de Kirchner, 70, a veteran on the left of the ruling Peronist party who served two terms as president between 2007 and 2015, called the original deal “scandalous” and a “scam” last week.
Her speech comes as Massa and his team are negotiating with the IMF to bring forward the disbursement of loans agreed to in 2022. A historic drought has hit grain exports, Argentina’s top source of dollars, forcing both sides into talks to potentially revamp the deal.
The government wants faster payouts and easier economic targets as it works to rebuild reserves needed to cover trade costs and future debt repayments.
Massa is due to travel to China on May 29 to potentially expand Argentina’s currency swap line with Beijing.
Argentina’s Vice President Cristina Fernandez de Kirchner has accused the International Monetary Fund (IMF) of stifling the country’s economy.
Fernandez de Kirchner, speaking at an event commemorating Revolution Day in Buenos Aires’ historic Plaza de Mayo, said the debt is impossible to pay off.
The vice president, who was speaking with Economy Minister Sergio Massa, who is attempting to steer the $44 billion initiative in the right direction, said: “If we are do not set aside this program to develop our own plan for growth and industrialization, it will be impossible to pay for.”
She said the original deal was “political” and that the IMF program does not allow the country to distribute wealth.
The government’s ruling coalition is attempting to shore up support from the IMF and advance payments ahead of October elections.
The South American grain producer has a tumultuous relationship with the IMF. Under former conservative leader Mauricio Macri, the country committed to a $57 billion deal with the Washington-based agency in 2018 to avert an economic crisis. This collapsed and was replaced by a proposal to refinance the $44 billion in outstanding debt last year.
Fernandez de Kirchner, 70, a veteran on the left of the ruling Peronist party who served two terms as president between 2007 and 2015, called the original deal “scandalous” and a “scam” last week.
Her speech comes as Massa and his team are negotiating with the IMF to bring forward the disbursement of loans agreed to in 2022. A historic drought has hit grain exports, Argentina’s top source of dollars, forcing both sides into talks to potentially revamp the deal.
The government wants faster payouts and easier economic targets as it works to rebuild reserves needed to cover trade costs and future debt repayments.
Massa is due to travel to China on May 29 to potentially expand Argentina’s currency swap line with Beijing.
Argentina’s Vice President Cristina Fernandez de Kirchner has accused the International Monetary Fund (IMF) of stifling the country’s economy.
Fernandez de Kirchner, speaking at an event commemorating Revolution Day in Buenos Aires’ historic Plaza de Mayo, said the debt is impossible to pay off.
The vice president, who was speaking with Economy Minister Sergio Massa, who is attempting to steer the $44 billion initiative in the right direction, said: “If we are do not set aside this program to develop our own plan for growth and industrialization, it will be impossible to pay for.”
She said the original deal was “political” and that the IMF program does not allow the country to distribute wealth.
The government’s ruling coalition is attempting to shore up support from the IMF and advance payments ahead of October elections.
The South American grain producer has a tumultuous relationship with the IMF. Under former conservative leader Mauricio Macri, the country committed to a $57 billion deal with the Washington-based agency in 2018 to avert an economic crisis. This collapsed and was replaced by a proposal to refinance the $44 billion in outstanding debt last year.
Fernandez de Kirchner, 70, a veteran on the left of the ruling Peronist party who served two terms as president between 2007 and 2015, called the original deal “scandalous” and a “scam” last week.
Her speech comes as Massa and his team are negotiating with the IMF to bring forward the disbursement of loans agreed to in 2022. A historic drought has hit grain exports, Argentina’s top source of dollars, forcing both sides into talks to potentially revamp the deal.
The government wants faster payouts and easier economic targets as it works to rebuild reserves needed to cover trade costs and future debt repayments.
Massa is due to travel to China on May 29 to potentially expand Argentina’s currency swap line with Beijing.
Argentina’s Vice President Cristina Fernandez de Kirchner has accused the International Monetary Fund (IMF) of stifling the country’s economy.
Fernandez de Kirchner, speaking at an event commemorating Revolution Day in Buenos Aires’ historic Plaza de Mayo, said the debt is impossible to pay off.
The vice president, who was speaking with Economy Minister Sergio Massa, who is attempting to steer the $44 billion initiative in the right direction, said: “If we are do not set aside this program to develop our own plan for growth and industrialization, it will be impossible to pay for.”
She said the original deal was “political” and that the IMF program does not allow the country to distribute wealth.
The government’s ruling coalition is attempting to shore up support from the IMF and advance payments ahead of October elections.
The South American grain producer has a tumultuous relationship with the IMF. Under former conservative leader Mauricio Macri, the country committed to a $57 billion deal with the Washington-based agency in 2018 to avert an economic crisis. This collapsed and was replaced by a proposal to refinance the $44 billion in outstanding debt last year.
Fernandez de Kirchner, 70, a veteran on the left of the ruling Peronist party who served two terms as president between 2007 and 2015, called the original deal “scandalous” and a “scam” last week.
Her speech comes as Massa and his team are negotiating with the IMF to bring forward the disbursement of loans agreed to in 2022. A historic drought has hit grain exports, Argentina’s top source of dollars, forcing both sides into talks to potentially revamp the deal.
The government wants faster payouts and easier economic targets as it works to rebuild reserves needed to cover trade costs and future debt repayments.
Massa is due to travel to China on May 29 to potentially expand Argentina’s currency swap line with Beijing.
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