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Argentina and IMF

18 10 0

In the first quarter of the twentieth century Argentina “had one of the ten highest per capita GDP levels in the world, on par with Canada and Australia and surpassing both France and Italy.” What went wrong? On September 20, 1956, Argentina became a member of the IMF. Over the past 63 years, Argentina signed up 21 arrangements and the IMF considered Argentina as its ‘poster child’. As of September 30, 2019, outstanding purchases and loans stand at 31,913 million SDRs or $43,967 million.

In September 2018, Argentina “received the biggest loan package ever from the IMF…a whopping $57.1 billion” to be disbursed over a three-year period. By end-2018, Argentine annual inflation hit 48 percent, a 27-year high. As per the latest report issued by the Argentina........

© The News on Sunday