Warning from a former Macri official: “The agreement with the IMF leaves a problem bomb for those who win in 2023″

The former president of the Central Bank, Guido Sandleris, said that the agreement reached by the Government with the International Monetary Fund (IMF) “leaves a bomb of problems for those who win in 2023.”

The economist, who also serves as Strategic Affairs Advisor to the Córdoba Stock Exchange, participated in a conference with the president of the entity, Manuel Tagle, in which the agreement with the organization for a debt of USD 44.5 billion, and which the Government will try to get approved this week in the Senate of the Nation, was the center of the exhibitions.

“This agreement with the IMF impedes Argentina's growth. This Government is leaving a volume of debt unmanageable and is the consequence of spending more than is collected. Kirchnerism has systematically aggravated this situation, because correcting it doesn't make you more popular,” Sandleris said.

“Alberto Fernández's government has taken debt of 33 billion dollars on average per year, while Mauricio Macri's government average was 12 billion dollars. We are used to these things about Kirchnerism, it is a story that has nothing to do with reality,” said the economist and former president of the Central Bank, as part of the economic cycle offered by the Cordoba Stock Exchange.

In that regard, he said that “this agreement will take five years to return to where we were fiscally in 2019. It does so without removing the huge elephant leg that suffocates the private sector, which is public spending.”

“The Government is proud to not make the structural reforms that Argentina needs. They don't want to change anything that prevents Argentina from growing steadily,” Sandleris said, adding that “if Argentina were Switzerland, I would understand that the government is proud of not making reforms, but Argentina has 40% poverty, inflation above 50% and the economy stagnant 10 years ago. The country needs those reforms.”

For his part, Tagle referred to the policies implemented by Alberto Fernández and pointed out that “the Stock Exchange is opposed to the guidelines being followed by the Government, because we believe that they are negative, counterproductive and are generating poverty and backwardness that are worrying for the country. These last elections, which consolidated the growth of the opposition, also meant balancing the legislatures of both deputies and senators, and that is a huge step.”

“In recent days we have seen the fracture of the government's ruling front. We perceived it in the Chamber of Deputies, when a significant number of its deputies did not want to approve the agreement with the Fund. It was there that the opposition, Together for Change, decided to support to avoid a really dangerous situation, absolutely inconvenient for Argentina, which is to fall into default,” Tagle stressed.

“We cannot turn our backs on so many people who are already suffering with the policies that this Government is carrying out, but if we also add a default to it, social peace and stability in the country would be very dangerous. The agreement is a light, weak agreement that postpones everything forward, but ultimately helps the political and macroeconomic stability of the coming months and years”, concluded the president of the Cordoba Stock Exchange.

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