Cristine Lagarde of the IMF says that Argentina's situation was more complicated than she thought.

There are 21 replies in this Thread. The last Post () by UK Man.

  • Her being unable to comprehend the complexity of the situation reminds me of candidate trump’s broad statement that achieving peace in the Middle East would be easy.


    With all the resources she had at hand, she should have been able to grasp the reality on the ground.

  • I also thought her comments were a bit lame and it begs the question I've been asking myself for a long time "Why did the IMF give Argentina such a massive loan?", the largest in the IMF's history in fact.

    Not to mention the ugly history the country has with the institution, particularly in 2001. Macri must have been desperate.

  • Yes, I’m sure he was desperate. Imagine walking into a situation exponentially worse than you’d imagined when running for office! The depths that he must have uncovered!

  • Macri must have been desperate.

    Maybe we should give him that he was convincing enough. Even if the mask fell quickly, for a little while, it held and he was able to get foreign investors and a big big loan.

    How exactly he made it, we don't know. But he did something, or at least tried!

  • According to Aljazeera, Argentina is carrying a staggering US$311bn debt.

    I had no idea it was that large and this week the country technically defaulted on a payment of $1.47bn.

    None of this is helped by CFK blabbing her mouth off in Cuba about the IMF not treating the country as it should and Albert agreeing with her.

    Criticising the IMF at this juncture doesn't seem to be a very wise move.

    Further, Guzman, the beleagured economy minister, says he's on the side of the people, when he knows full well that the people are the only ones who will pay for this catastrophe.

    https://www.aljazeera.com/ajim…isis-200212205916649.html

  • I was reading last night about the technical default.


    What surprises me is that the Dollar is still floating around the 60 peso mark and the blue has been fairly stable as well.


    So it seems this is only a small unimportant default....

  • [quote='UK Man','https://www.argentinaexpats.org/forum/index.php?thread/1711-cristine-lagarde-of-the-imf-says-that-argentina-s-situation-was-more-complicated/&postID=18690#post18690']

    Argentina and debt.....the neverending story.

    [/quote]

    We made ordinary something extra was ordinary. That’s how we maintain our cool when the boat is sinking. Sinking is a state of being, not a situation.



    Sent from my iPhone using Tapatalk

  • we see now how our old queen is coming in play........she have appeared to surfaces with a lot of opinions lately......not for the good of course!

    The comments from both her, the clown and Guzman just stupid!!!!!

    And in the poker game they play, I already have a winner and a looser!!!!!!

    Countries like Argentina are so incredible predictable........not exactly a good thing if you play poker!!!!

    The finance people of Argentina are sitting and planning how to play this......but they forget they are playing against the rest of the world, all the ones with Argentinian debt in their portfolio and FMI.......

    To be honest I find Argentina shameless.....

  • Just reading around the default scenario a bit...both locally but even more international news and evaluations.


    Seems like the government strategy is to get the bonds down further.....meaning scaring the bondholders out of the market......that way it will be easier to cut a deal that look tempting for the bondholders.......

    Anyway, if you read the international opinion on this strategy.....uhhhhhhhhh.....does not sound like a good idea to play with fire like that......

  • Just reading around the default scenario a bit...both locally but even more international news and evaluations.


    Seems like the government strategy is to get the bonds down further.....meaning scaring the bondholders out of the market......that way it will be easier to cut a deal that look tempting for the bondholders.......

    Anyway, if you read the international opinion on this strategy.....uhhhhhhhhh.....does not sound like a good idea to play with fire like that......

    Which site in English would you recommend JAN ?

  • Splinter .....

    I really use Google more than specific sites.....to avoid American dominant opinions.....say typical wall Street opinion......

    So by "Argentina default" u get a lot British and other European sites also.....

  • Just reading around the default scenario a bit...both locally but even more international news and evaluations.


    Seems like the government strategy is to get the bonds down further.....meaning scaring the bondholders out of the market......that way it will be easier to cut a deal that look tempting for the bondholders.......

    Anyway, if you read the international opinion on this strategy.....uhhhhhhhhh.....does not sound like a good idea to play with fire like that......

    Haven't a f'ing clue what you're talking about Jan....and I'm happy to say it doesn't bother me one bit. ^^