September 26, 2022

Brighton Journal

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“Act now”: Kristalina Georgieva’s strong demand for countries with high dollar debt, such as Argentina

Kristalina Georgieva (REUTERS / Denise Polypous // File Photo)

“Act now. If you can extend the term of your loan, please do so. If you do not have the currency, now is the time to work on it. ”. Thus, directly and harshly, the Executive Director of the IMF, Kristalina Georgieva, Refers to countries with high debt in dollars such as Argentina. He did it during a virtual group at the World Economic Forum in Davos.

The US Federal Reserve (FED) has pushed for a possible rise in interest rates to curb high inflation, and the withdrawal of stimulus packages, according to the IMF, has had an impact on other countries that owe dollars. Can cool its economic recovery. Georgieva hopes this hike will create one Quality fly As a result, funds will be withdrawn from emerging markets.

Following the wait-and-see defeat for Cambiemos in 2018, the director of the IMF, who did not mention Argentina, cited China’s case and its zero-tolerance strategy against Kovit after the wait-and-see defeat for Cambiemos in 2018, which included restrictions on movement. And barriers to explosions, and this translates to a severe recession, which shows that the Omigron variant is “difficult to control” without “dramatic economic impact”.

Bar Georgieva told the central bank, “The United States is acting responsibly as inflation becomes an economic and social concern.”

Georgieva said it was important for central banks to be data-driven and to communicate clearly about any monetary policy austerity in response to inflation, but other monetary officials’ response was particularly important in efforts to raise rates. Vaccine worldwide.

Alberto Fernandez and Georgieva
Alberto Fernandez and Georgieva

“The first and foremost thing is to recognize the importance of fighting the epidemic,” he said, adding that 86 countries around the world had not reached the goal of vaccinating at least 40% of their population by the end of 2021.

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He said inflation was a national phenomenon that would further complicate monetary policy responses in 2022 rather than the first year of epidemics 2020.

“Perhaps it was a little too early for China to withdraw its stimulus policies, and it should have kept them for a while longer,” he said. However, he stressed that now “the conditions in every country are very different, so they cannot have the same policy everywhere,” as opposed to the situation in 2020 when they carried out similar measures around the world. In his speech, Georgieva exemplified what is happening in terms of inflation in two “giant corporations”, the United States and Japan, because at first the rise in base prices – regardless of energy – was about 5, 5. %, Closed with a 0% ratio in the second practice.

Even Lopez Obrador.

Mexican President Andres Manuel Lopez ObradoThe IMF on Friday called for a “reasonable” agreement for Argentina to reconsider its debt.

Government of Alberto Fernandez, Is in talks with the International Monetary Fund against the clock, an extension of the terms for the maturity of about $ 44,000 million contracted in 2018. All this in the context of great economic uncertainty, with strong pressure on the exchange rate of the dollar, Reached a new record of 218 pesos with free will And funding is increasing.

Lopez Obrador supporting Argentina

“In this case, I take this opportunity to call on the International Monetary Fund (IMF) to provide fair treatment to Argentina. The IMF accepts its responsibility for the debt.” Said Lopez Obrador.

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The Mexican president added that the IMF should recognize “honestly and ethically” what they did “wrong” by lending money to the government of Mauricio Macri “beyond reasonableness”.

“For political reasons they wanted the acting leader to win back, so they gave them money and what they did was worsen the economic and financial crisis in Argentina (…) co-responsibility, they should consider it,” Lopez Obrador, without quoting Macri openly Said.

With Reuters information

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