In this way, the former official of the credit organization that negotiated the previous Stand By agreement with Argentina for US$45,000 million with the Government of Mauricio Macri, described the current management of the Palacio de Hacienda as aa.
Instead, Werner was highly critical of the Argentine government: “He never wanted to make an economic program that had the strength to transform Argentina and stabilize it”he maintained in radio statements.
Werner also pointed out: “Minister Martín Guzmán closed an agreement with the IMF in which he did not believe and did not intend to fully implement it.”
Instead, he considered that “eMinister Massa has more intention to implement it“, since, as he said, “he believes in what 80% of economists believe in what has to be done with an economy like Argentina’s”
The former Fund official stated that Massa “has a limited political space, but broader than the previous minister to advance”
“In this context, I believe that the IMF is facing a minister to whom the Argentine political crisis and its own weight opens up spaces to implement the program in a more thorough manner than the previous minister”he added.
Werner said about the organization led by Kristalina Georgieva: “He wants the Argentine economy to continue in this direction, although it is at a tremendously slow speed, without the reforms, but he feels that it is the most that can be done in this context.”
“If this contributes to achieving a certain normality in the implementation of democratic changes, that’s fine by the IMF,” he explained.
Werner maintained: “IThis is an agreement with which no one is convinced within the IMF, but in front of them they have a government whose president believed that inflationary problems have nothing to do with monetary policy, and that fiscal adjustment was not something desirable for the Argentine economy.”
“From the technical point of view the President was always wrong, from the political point of view he never had the backbone to tell society what needed to be done,” he added.
For this reason, he considered thatthe IMF decided to provide the financing that Argentina needed with the best possible financing” and he opined that “it was a political decision of which I have no doubt”.
Also, he considered that, to strike a balance between technical and political issues, IMF officials considered that the country had to be supported, although “there is no conviction.”
“They have said it: this is a bridge for a better program in the future,” I consider.
Source: Ambito
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