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they called for an urgent renegotiation of the debt

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The Economy and Labor Forum requested “to demand that the IMF assume the consequences derived from the irregular granting of the loan to the country in 2018 and an urgent review of the agreement.”

The Economy and Work Forum was presented this Monday in the auditorium of the Argentine Union of Private Teachers with a document indicating the urgency of a comprehensive renegotiation of the debt and an improvement in income distribution.

Among the most important arguments they maintained: “The worsening of the living conditions of the majority of the population and the growing suffocation of our economy impose requiring the IMF to assume the consequences derived from the irregular granting of the loan to the country in 2018 and an urgent review of the agreement (through a reduction, elimination of surcharges, and changes in conditions) since it is not sustainable, also due to the consequences that the inevitable bankruptcy would entail as a precedent for other peripheral countries”.

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On the other hand, they stated: “The contracting of the loan by the Government of Mauricio Macri, did not have the proper authorization from Congress and it was granted in contravention of the statute of the borrower (the IMF). The agreement for its payment was drawn up with notorious malpractice, causes irreparable damage to the national economy, increases the risk for the world economy and the management of the IMF itself.”

In that sense, the document proposed a series of actions to change the debt situation. First of all They indicated that “urgency must be printed” to the judicial process that investigates indebtedness, capital flight and tax evasion.

They also pointed out that “the foreign exchange managementwith emphasis on those used by large companies to cancel their principal and interest debts”.

As for future laws, They assured that it is important to approve projects such as the creation of a fund in dollars for payment to the IMF based on the entry of penalties for the recognition by their holders of funds abroad not declared to the treasury; that of limiting the speculative actions of “vulture funds” based on Argentina’s positions in international forums; the one that makes the release of fiscal, stock market and finance to locate and investigate people and companies suspected of evasion and/or laundering linked to capital flight.

“It is a priority the maintenance of exchange control and the care of reserves through clear and transparent controls, combating the under-invoicing of exports and the over-invoicing of importsprioritizing access to foreign currency to guarantee productive and social needs that require, both directly and indirectly, imports or payments abroad,” they considered.

Source: Ambito

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