In the midst of opposition criticism of the government’s economic policy, a harsh comment from the International Monetary Fund was also made public in the last few hours.
“Inflation is paralyzing the economy in Argentina,” said Ceyla Pazarbasioglu, a Turkish economist who is in charge of evaluating the consistency of the local numbers in view of the agreement signed with the IMF.
According to the specialist, “inflation is harder for the most vulnerable people” and it is imperative to “tame” it. It is in this attempt to tame the rise in prices that “rates are being raised.”
During a television interview, Pazarbasioglu clarified that Argentina’s decision to raise interest rates to 47% “is part of the agreement that Argentina closed with the IMF.”
In that context, he added: “We are seeing shock after shock in the world economy, including financial crisis, coronavirus and war.” There are many countries that have unsustainable debt” that requires careful work by the IMF, governments and the private sector.
In the post she made on Twitter, the economist called “a the international community to urgently support vulnerable countries through coordinated actions ranging from the provision of emergency food supplies, financial support, increased agricultural production and open trade.”
Source: Ambito
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