The former head of the Western Hemisphere Department of the IMF He also questioned President Alberto Fernández for “blaming” the government of Mauricio Macri for the high indebtedness, instead of focusing on developing policies that resolve “very deep” structural imbalances such as the high public spending.
The economist considered that the new agreement “it conforms to the minimum conditions so as not to fall into the abyss”but “it will not help put the country on track to get out of decades of instability and stagnation,” Werner stressed,
Meanwhile, the current director of the Institute of the Americas at Georgetown University explained that “The probability that the program is derailed is high and will generate moral hazard as other countries will demand similar treatment in their commitments to the multilateral.”
“It seems that, in the end, the IMF decided not to become the odious collector that punishes Argentina for not being able to pay its debt, nor the ogre that imposes harsh medicine,” he added.
“By accepting this very weak agreement under the logic of achieving the ‘possible program’ and not the ‘correct program’, the IMF is putting its reputation on the line. behind the economic agenda of the authorities while waiting for program 24 with Argentina”, closed Werner.
Source: Ambito
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