Weekly Report - 20 January 2022 (WR-22-03)

ARGENTINA: IMF tensions riding high

Political tensions are palpable in Buenos Aires as the deadline for the Argentine government to make substantial debt repayments draws ever closer and a deal with the International Monetary Fund (IMF) remains distant. Foreign Minister Santiago Cafiero visited the US this week in the hope of winning US support for the government’s negotiating stance with the IMF, but this was not forthcoming. While US Secretary of State Antony Blinken underscored Washington’s full support for “a vibrant Argentine economy” and deepening bilateral ties, this pointedly did not extend to backing Argentina’s approach with the IMF. Cafiero’s visit coincided with domestic political ructions: the right-of-centre opposition Juntos por el Cambio (JxC) coalition criticised the government’s lack of a viable economic plan, while Vice President Cristina Fernández took aim at the previous JxC government, led by Mauricio Macri (2015-2019), and the IMF.

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