{"id":4429,"date":"2023-09-16T15:28:40","date_gmt":"2023-09-16T13:28:40","guid":{"rendered":"https:\/\/www.dhcab.com\/?p=4429"},"modified":"2023-09-16T15:28:40","modified_gmt":"2023-09-16T13:28:40","slug":"the-imf-grip-is-set-to-tighten","status":"publish","type":"post","link":"https:\/\/www.dhcab.com\/?p=4429","title":{"rendered":"The IMF grip is set to tighten"},"content":{"rendered":"<div class=\"postie-post\">\n<div>\n<div dir=\"auto\">Argentina and the International Monetary Fund have had a rocky history, and it appears that things may deteriorate further.<\/p>\n<p>Just five years ago, Argentina became the largest debtor to the Washington-based lender, receiving $57 billion in aid. Unfortunately, the program failed to revive South America&#8217;s second-largest economy.<\/p>\n<p>At present, the government has been unable to meet the economic targets set by the IMF.<\/p>\n<p>This has led to mounting pressure, with analysts suggesting that the IMF should adopt a tougher stance when a new government takes office after the October elections.<\/p>\n<p>&#8220;No matter who wins after the vote, the IMF should insist that the government either bite the bullet &#8211; or otherwise the Fund should pull the plug on its support,&#8221; said Mark Sobel, a former US representative at the IMF.<\/p>\n<p>Javier Milei, who emerged as the frontrunner in last month&#8217;s primary election, is in favor of dollarizing the economy and believes that the IMF should push Argentina to reduce its primary budget deficit to 1.9% of GDP by 2023.<\/p>\n<p>However, even if Milei wins the October 22 election and assumes power in December, he will need the support of a united congress to pass reforms and implement a new IMF program.<\/p>\n<p>Meanwhile, economy minister Sergio Massa, the presidential candidate of the center-left Peronist coalition, pledged this week to exempt millions of workers from income taxes shortly after receiving new IMF funds. This move could further strain Argentina&#8217;s already tense relationship with the fund.<\/p>\n<p>Hence, after the elections, the new president will not only have to address domestic issues but also find a way to negotiate with the powerful lender, which is increasingly dissatisfied with the current policies.<\/p><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Argentina and the International Monetary Fund have had a rocky history, and it appears that things may deteriorate further. Just five years ago, Argentina became the largest debtor to the Washington-based lender, receiving $57 billion in aid. Unfortunately, the program failed to revive South America&#8217;s second-largest economy. At present, the government has been unable to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-4429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global-issues"],"_links":{"self":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4429","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4429"}],"version-history":[{"count":0,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/posts\/4429\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=\/wp\/v2\/media\/4430"}],"wp:attachment":[{"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4429"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4429"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dhcab.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4429"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}