In dialogue with the “Russian Roulette” program on Metro 95.1 radio, Marx considered that the agreement “must be practical” because the understanding reached “is within the feasible” and said: “I believe that the political arc is going to be realistic for us to do things that allow us to compensate for what the adjustment of public accounts means by an expansion of opportunities and activities for people and companies, that there is investment and that generate a positive dynamic for Argentina”.
In relation to the interest established by the IMF in the negotiation, it ensures that “in loans like the one from Argentina, the interest rate is set at 4%”, instead “the country’s bonds if Argentina had to look for money have a rate of 18% to 20%”, so “they are extraordinarily high and unsustainable “.
The Alliance’s former Secretary of Finance between 1999 and 2001 also recalled that “Most of the years that Argentina had this problem, interest rates were between 6% and 15% per year.”
Regarding the granting of the US$44,000 million loan during Mauricio Macri’s mandate, he stated: “There are no financing sources that I know of that give that amount of money with the rates given by the IMF. One is forced to negotiate with that creditor who, moreover, has important maturities this year.”
In that sense, he stated: “The way to pay them is, precisely with the ways they operate, which is to take a new loan, which gives enough liquidity to meet maturities.”
Source: Ambito
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