Argentina Bailed Out With Biggest Ever Loan In IMF History

Just a few weeks after Argentina became ground zero for the coming Emerging Market crisis, when its currency suddenly collapsed at the end of April amid soaring inflation, exploding capital outflows and a central bank that was far behind the curve (as in "13% of rate hikes in a week" behind)…

… the IMF has officially bailed out the country - again - this time with a $50 billion, 36-month stand-by loan, and coming in about $10 billion more than rumored earlier in the week, it was the largest ever bailout loan in IMF history, meant to help restore investor confidence in a nation that, between its soaring external debt and current account deficit, prompted JPMorgan to suggest that along with Turkey, Argentina is in effect, doomed.

As the JPM chart below shows, the country’s total budget deficit, which includes interest payments on debt, was 6.5% of GDP last year, much of reflecting a debt binge of about $100 billion over the last two and a half years. The primary fiscal deficit in 2017 was 3.9%.

The loan will have a minimum interest rate of 1.96% rising as high as 4.96%.

“We are convinced that we’re on the right path, that we’ve avoided a crisis,” Finance Minister Nicolás Dujovne said at a press conference in Buenos Aires. “This is aimed at building a normal economy.”

Dujovne said that about $15 billion from the credit line would be immediately available to Argentina after the package is approved by the IMF’s board, which is expected on June 20. The rest would be dispersed as needed as Argentina meets its targets.

Shortly after the news the loan was finalized, Dujovne made some additional, more bizarre comments, saying that "the amount we received is 11 times Argentina’s quota, which reflects the international community´s support of Argentina," almost as if he was proud at just how insolvent his country "suddenly" become. He was certainly delighted that, in his view, Argentina is now "too big to fail", and received not only this loan as a result…

"It’s very good news that the integration with the world allows us to receive this support."

… but also hinted that the international community would also foot the bill for all other upcoming Argentinian bailouts. And if the country's history is any indication, there will be plenty more, as well as the occasional military coup for good measure.

Other urls found in this thread:

investopedia.com/ask/answers/08/george-soros-bank-of-england.asp
priceonomics.com/the-trade-of-the-century-when-george-soros-broke/
forbes.com/sites/steveschaefer/2015/07/07/forbes-flashback-george-soros-british-pound-euro-ecb/#56733a6d6131
en.wikipedia.org/wiki/Black_Wednesday
businessinsider.com/how-george-soros-shorted-the-pound-etching-his-name-into-financial-history-forever-2010-6
en.wikipedia.org/wiki/International_Monetary_Fund
en.wikipedia.org/wiki/Harry_Dexter_White
theoccidentalobserver.net/2015/08/01/paul-singer-and-universality-of-anti-semitism/
abqjournal.com/1156553/work-begins-on-new-border-wall-in-southern-new-mexico.html
vimeo.com/ondemand/planandiniavod/128153759
twitter.com/SFWRedditVideos

According to Bloomberg, Argentina will see 30% of the funds a day or two after the Fund’s June 20 board meeting, and in typical IMF-bailout fashion, a form of austerity will be imposed on what was once Latin America's richest nation: as part of the agreement, the country will now target a fiscal deficit of 1.3% of GDP in 2019 and 2.7% this year, with a fiscal balance targeted for 2020 (good luck). And since the previous targets of 2.2% and 3.2%, were almost as laughable, this latest IMFian austerity package not only has zero chance of ever being achieved, but if Greece is any indication, it will make the Argentina crisis far worse. The government has also set a new inflation target of 17% in 2019 - It's considered low - declining to 13% in 2020 and 9% in 2021.

And the biggest joke, as part of the program, Argentina will agree to accelerate the pace at which it reduces the government deficit. The nation spends more than it collects in revenue and imports more than it exports, creating fiscal and current-account shortfalls that leave Argentina vulnerable to fluctuations in its currency. But, thanks to the even more idiotic policies of central banks, Argentina managed to sell a 100 year bond last year, demonstrating just how stupid some managers of "other people's money" really are.

“This is a plan owned and designed by the Argentine government, one aimed at strengthening the economy for the benefit of all Argentines,” IMF Managing Director Christine Lagarde says in the statement which can be found on the IMF's website.

To take effect, the deal reached between the IMF’s staff and Argentine authorities still requires the approval of the IMF’s executive board.

Oh, and thank you American taxpayers: the IMF’s largest shareholder, the U.S., said in a statement Thursday from Treasury Secretary Steven Mnuchin that it supported the program, according to the WSJ.

“The size of the package should provide relief, but implementing the program entails significant challenges and will require skillful political leadership,” said Martin Castellano, the head of Latin America research at the Institute of International Finance.

Argentina was bailed out by the IMF for the second time in 2 decades after three rate hikes pushed borrowing costs above 40% but failed to halt a plunge in the currency. The peso fell 25% against the dollar this year to trade at 24.9850 on Thursday, while capital outflows soared.

Central Bank President, Federico Sturzenegger, said the bank will continue to intervene in currency markets in times of “disruptive movement" although the central bank will not target inflation this year, he said. Meanwhile, the government has agreed to send a bill that gives the central bank more autonomy, and as a result it wil no longer transfer funds to the Treasury.

"We’re convinced that we’re on the right track, that we managed to avoid a crisis, gather support for the program we already had and that has been in place since Dec. 2015, which looks to build a normal economy, reduce poverty and protect the vulnerable," Dujovne said, echoing what Greece said after its first bailout 8 years… and its second… and its third.

Gerry Rice, an IMF spokesman, speaking Thursday before the details of the bailout were announced, told reporters that the IMF is “not seeing negative spillovers to other countries at this point.”

Well, he may want to take a look at Brazil.

* * *

As for what happened the last time the IMF bailed out Argentina in the early 2000, the following 2004 article from the Telegraph tells you all you need to know why when a nation is desperately in need of deleveraging, giving it another $50 billion in debt is generally a bad idea.

IMF admits mistakes in Argentina crisis

By Edmund Conway12:01AM BST 30 Jul 2004

The International Monetary Fund yesterday admitted that its mistakes helped plunge Argentina deeper into the red during the currency crisis that crippled the country's economy three years ago.

In a report published yesterday by its independent evaluation office, the IMF said it ought to have prevented the Argentine government from following poor economic policies.

"IMF surveillance failed to highlight the growing vulnerabilities in the authorities' choice of policies and the IMF erred by supporting inadequate policies too long," it said.

The financial meltdown that reached a climax in 2001, causing the country to default on $132 billion of foreign debt, was worsened by the government's vain attempts to maintain the Argentine peso's peg against the dollar. The IMF ploughed money into the country to help it sustain the peg, pledging an extra $22 billion as late as the end of 2000.

"In retrospect, the resources used in an attempt to preserve the peg could have been better used to mitigate some of the inevitable costs of exit," the report said.

Although it became clear to some IMF staff that the country's currency plan was flawed in the 1990s, they did not report their doubts to their board for fear of triggering a speculative attack on the peso. The executive board, for its part, ignored staff complaints that Argentina was not reforming its economy satisfactorily.

Both the IMF and the US touted the country as Latin America's economic success story but the fund maintained its support despite the fact that Argentina missed its fiscal targets every year since 1994. Analysts have also claimed that the IMF's demands that Argentina raise taxes in 2002 worsened the crisis. The conclusions will come as a blow to the institution, whose role has come under increased scrutiny in recent years.

Yesterday the Argentine finance minister, Roberto Lavagna, argued that the country should not be pressed too hard for repayments of its current three-year $13 billion loan. He said the IMF was now insisting it reformed its economy "in a way absent throughout the 90s" and "under a schedule that is oblivious to the political realities of the country".

Good luck, and some advice to Argentina: this time try to prevent Elliott Management from buying up your debt at distressed prices.

Does Soros own IMF or is that video unrelated

Can you imagine if Soros really were capable of all the evils people ascribe to him?

He is…
He's the reason the Ukraine coup happened, along with so many other color revolutions
What does that have to do with him owning the IMF or not anyways? Stop shilling/trolling/being retarded

Kill yourself leddit.

I'm tired of you idiot ledditors.
He straight up destroyed the bank of england in the 90s.


investopedia.com/ask/answers/08/george-soros-bank-of-england.asp

priceonomics.com/the-trade-of-the-century-when-george-soros-broke/

forbes.com/sites/steveschaefer/2015/07/07/forbes-flashback-george-soros-british-pound-euro-ecb/#56733a6d6131

en.wikipedia.org/wiki/Black_Wednesday

businessinsider.com/how-george-soros-shorted-the-pound-etching-his-name-into-financial-history-forever-2010-6

Soros is the one they allow to be publicly named and blamed for things. He's small time compared to the Rothschilds.

Well, that's one way to burn money cuz that shit is GONE and in a few years the spicniggers will cry for more.

Yes, and that's a good thing!

What difference?
If Argentina keeps refusing to allow market forces to set prices, and productivity to pay, then what are they going to buy with those newly-manifested shekels?

The IMF makes as many shekel-numbers in their computers as they want, there is no real oversight, and "loans" those numbers to Argentina. What has Argentina gained except numbers?
If they refuse to allow prices to rise at the grocery stores, and refuse to allow food imports at market prices, then all the numbers in the world will mean squat.

And whatever productivity they may have left has just had a large portion of it enslaved to Jew bankers, in return for imaginary "money."

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Soros IS the rothschilds, he basically is their front-man.

The kikes like to test their crisis in the west in their test tube nations, the 2008 world banking crisis was tested first in Argentina in 2002 and then in Iceland 2006. Argentina is a good petri dish for this stuff since, memes aside, is a mostly White nation and has a smaller economy more isolated from the world.

Exactly this.

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Argentina is not white.

What?

Argentina is now the jews slave.

Grew up in Argentina, now live in Brazil.

Argentina is a constant reminder that Brazil's economy isn't that bad. Yes, even right now.

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Reminder that Argentina has the highest kike population in Latin America with Mexico and Brazil leading in 2nd and 3rd

Reminder that the IMF was created by Harry White, a Soviet agent receiving orders from Stalin.

>en.wikipedia.org/wiki/International_Monetary_Fund
>en.wikipedia.org/wiki/Harry_Dexter_White

Friendly reminder that everytime a country supposedly gets bailed out, it's actually the banksters who get bailed out with our tax money.

Yes, all cryptos. Spics aren't woke on the JQ, unfortunately.

And Harry Dexter "White"'s real name was Weiss.

In terms of Argentina, actually looking into it rather than lazily saying "Soros" and "Rothschilds" shows that Elliott Management and Paul Singer are more relevant in this case.


kek


Yeah, Kirchner is pretty badass as far as naming the Jew, that's not exactly common among heads-of-state. Shame that she knows the deal and still has to go along with this bullshit, I'm sure they created this problem which only they can "solve" with some low, low interest loans, goy.

theoccidentalobserver.net/2015/08/01/paul-singer-and-universality-of-anti-semitism/

Don't worry guys, they are mostly Aryans, so it's a victory for our race.

I'm just sick of having to pick up animal corpses that are thrown at the virgin mary in the roundabout in front of my house. Roundabout and virgin mary that my ancestors placed there.

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Is it just me or does this not seem like a very large loan for a nation the size of Argentina.

It's good to know that our money is going to help poor brown people instead of building a GOD DAMNED WALL

Argentina exterminated it's black people via eugenics and expulsions.
It's one of the most white states in latin America, Jewish attacks on it are not a simple (((coincidence))).
However Kirchner is a massive socialist cunt whose regime stole billions of $ to give to communist turds like Venezuela, PT party here in Brazil and farc and Cuba.

Brazil's economics problems are the massive internal debt and the socialist plundering of the country, coupled with inefficient bureocracy with political administration instead of technical appointments and serious lack of infrastructure.
Brazil grew the most when we had a semi fascist military government running things, sadly they didn't kill the communists who would later run things into the ground.

I envy Argentina, they have at least the ethnic group with somewhat high intelligence and potential, unlike us who's forefathers ignored the race problem and mixed their legacy into a low iq hellhole.
At least I was lucky to be born into a German colonized state, sadly it is being overrun by literal hordes of internal migrants wanting gibs and white women to rape.

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Most Argentines are descended from several European ethnic groups, with more than 55% having Italian origins. The second-most common ethnic origin is Spanish. About 17% have French origins, and about 8% are descended from German immigrants. Argentina today has a large Arab population, most of whom are from Syria and Lebanon.There are also about 180,000 Asian people, mostly of Chinese and Korean origins.

Media doesn't report a lot of things, user. You have to look for yourself sometimes.

abqjournal.com/1156553/work-begins-on-new-border-wall-in-southern-new-mexico.html

The USA will get bailed out by the IMF within a decade.

Argentine here, basically we're fucked, again: macri despite being friends with trump went full cuck and supported hillary, then went full cuck on the left doing jack shit to remove all the gibsmedats so we got literal illegals from paraguay, bolivia and all those literally shit countries coming here for free healthcare, college and money from the government

Meanwhile the average Argentine has to pay 50% tax on imports, 21% VAT/sales tax and like 40% income taxes, its fucking insane but its the only way all the gibs can continue, they can't lower taxes without a chimpout, which could be solved like in the old ways when president Sarmiento ordered native dindus who were stealing to get heir heads cut off and then posted at the entrance of Buenos Aires as an example

Or president Roca who got them all hanged, burned alive, or both because why not?

BTW that was the time when some people said Argentina would be the next US, but ever since the left took control we became another failed country, coincidence?

We're fucking done

if there's a riot because gibs me dat are cut off, and the government cracks down,then will the government be bombed by the jews?

It always amuses me when people literally get 50%+ of their money stolen by the government and do nothing, yet when niggers get their gibs taken they chimp out and get it reinstated. Just proves that might is right I suppose, if you aren't willing to stand up to the bully he's going to keep taking your lunch money.

Cristina Elisabet Willhem is a literally jew who did a few bad goy things, but is mostly a jewish parasyte, a corrupt politician and a lefty
She almost destroyed the country in one of the best economic recoveries we had.
Macri ( Machir actually) is a crypto jew trying to destroy our country. He failed at many fronts so miserably that he's politically dead and won't win a reelection.
That's it ; we've been governed by jews the last 20 years.

Argentina is ocuppied since 1980's approximately.

Soros directly founded the NGO's that pushed for legal abortion in this country, that was legalized today. On the same day that the fifa world cup starts and a couple of days after the deal with the IMF was made. Just a (((coincidence))). Fucking Jews
This whole spectacle reeks of Soros's think tank, in 2 weeks we had like 20 manifestations with "pre made" posters and thousand of professionally made green handkerchief (representing legal abortion) appearing out of fucking air.

Depending where you live.
Buenos Aires is Jew heaven, rest of the country, not so much

the only thing going for her was that she wasn't a friend of the merchants, but that's all. He was a turbo leftist socialist

gee I wonder what Soros is doing with that "missing" submarine of theirs

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The new Palestine
vimeo.com/ondemand/planandiniavod/128153759

its their way of expanding the problem
>sends (((shockwaves))) through international finance

Exactly this. Enjoy your nogs and kebabs, Argentina.

You would think people would eventually ask why every (((democratic))) nation is over its ears in debt. It isn't hard, really, to balance a national budget. Just figure out what needs to be spent, add 10%, and set the taxes according to who benefits and which groups can afford the cost. If you can't find a good answer to the revenue, it means you're not rich enough to afford what you're budgeting for. Scale back and invest more in education and infrastructure. Borrow to cover net-gain projects, be ready to forget the whole thing if you can't find a good rate, and focus on national self-sufficiency, so even if when things go wrong, you'll still be exporting food and energy.

But no, every government in the "free" world is saddled with endless (((debt payments))) and massive (((interest))) on loans from 50 years ago. I get that you can't get elected on a platform of higher taxes for a while and reduced services for decades, but nothing in the world is free. Trust the kikes to invent a form of government that effectively forces otherwise intelligent people to pretend you can get education, healthcare, and massive national defense services for ever-lower tax amounts.

Can we spread the word that systems that allow everybody to vote are doomed, and that universal suffrage is as stupid and self-destructive as communism? Now that I type that, it actually occurs to me that those two things aren't even different in the end.

White, male, married fathers who own property may vote, and each of them gets an extra vote for every percentage point above the average that they pay in taxes, with a slight premium for military or national labor service veterans. With this, the land will bloom and schoolkids will have to look up "deficit" in the dictionary. Any other system leads to serially pregnant sheboons voting themselves rich at the behest of the Jews.

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See , and notice how you've reinforced the point, not refuted it.

Argentina was only woke during Juan Peron's first government. He then came out of exile and supposedly started listening to his wife's horseshit leftist garbage… although It's very likely that Peron made a pact with the kike's to be freed from jail. He was even penpals with Oswald Mosley (he learned English in military school) but mysteriously and completely stopped conversing with him when he got out. Peron is a good example as to why we have to constantly watch /ourguys/ since every leader is capable into being turned into a shabbos.

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Astute post.

Good info, thanks.

That is not enough. Most white males no matter external circumstances are simply too dumb or too ignorant to be able to contribute anything to the political process. Suffrage should not encompass more than the most clever ten percent of germanic males. The rest are just crew, not officers.

>Oh, and thank you American taxpayers: the IMF’s largest shareholder, the U.S., said in a statement Thursday from Treasury Secretary (((Steven Mnuchin))) that it supported the program, according to the WSJ.
I don't appreciate propping up all these other countries while mine is being invaded. Quit pissing away my money and my future on foreigners.

BUILD THE FUCKING WALL

How has he reinforced it? Are Italians and Spaniards not white?

Possession is 9/10ths of the law. I wouldn't let them take physical custody of anything, if for no other reason than as a matter of sovereignty.
Nationalizing property/industry is SOP in that hemisphere anyway.

I guess (((they))) would react punitively, but all the more reason to form a SA bloc with hueville and friends then cut (((them))) out completely.

oh, please tell more of your woes user.

Quick hide, Cristina Fernández de Kirchner came back.

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If you understand that "Germanic" is Aryan and where almost app the clever people come from, then just keep the entire population Aryan and practice soft-to-medium eugnics, screening plus genetic sequencing and all, everyone will be clever enough.

Rememver even America had sensible voting policies once, didn't save us and if you know your kike symbolism we weren't ok from the jump, all the founding fathers were Satanist kike familiars

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Not true, the Pacific countries (Columbia, Peru, Chile) have strong market economies, albeit with the usual background (((capital networks))) common to all capitalist countries.

CFK is basically Argie HRC in practically every sense imaginable (rigging votes, media pressure, etc), and part of the biggest zog party, (((Partido Justicialista))) aka (((Peronism))) who has had grasp in power since the 40s. Not to mention she was an actual terrorist along with her husband during the infamous 70s aka the holohoax in a much minor scale, the so-called 30000 kidnappings were less than a third, and the number was actually inspired by the kikes' own in order to get gibs; said terrorists were remains of Peronists of fucking course but today they still run free and unpunished. In fact some of them are still in power. Argentinian history is a fucking mess.

Macri is no better if anything he's more like a Turdeau than a Trump but it helps that his opponents are just as retarded and just as arrogant as the DNC and the kikes that peddle them. What you guys saw on the 2016 election was something we saw a year prior.

Try 1940s. Remember Perón? You know, Evita's husband? AKA the one who took in German and Italian war prisoners? He's one of the most shabbos of goyim, was one of the first in recognising Israel and have an embassy, created the (((DAIA))) and (((OIA))), a kike wing of Peronism, and by law allowed kikes to occupy public charges. They flat-out admitted that they brought in Germans because they wanted the technology.
Thanks to that crypto our country is in the state that it is. If there's ever a military coup again I fucking wish, the army is anything but a joke thanks to every single government after the 70s coup defunding the fuck out of them and constantly hammering the "military and anyone with an uniform is bad propaganda" I hope every single Peron worshipper has their heads in pikes in every public plaza for all to see. /ourguy/ my ass.

The Rothschild are a front too, there are some real and nasty satanic Jews who are more powerful than them.

And as says our current president is a pussy, backed down on removing gibs and kicking out illegals (which 99% of the time come from the north), which would be the easiest solutions along with the removal of state employees we call them gnocchi, as they only appear on payday; and indeed, they're the biggest parasites next to the average welfare families that still exist. He's way too nice, expecting these kikes to actually agree with his decisions and not try to overthrow them like they've done every other occasion someone other than them won (Isabel Perón (which was the main trigger for the 70s military coup), Alfonsín (he was close to finishing), De La Rúa (1999-2001) even though he was also retarded) or at least "resist" in the most underhanded ways possible (reminder that most if not all union leaders are Peronists, several in the MSM also are, the Senate is, a good deal of provinces and states are (casually the poorest ones, the province of Formosa is a special case because not only it's poor but also willingly lets in illegals) and Supreme Court is full of them which explains the incredibly shitty justice system. And not only that, most of the gibs are also paid at the cost of the ruin of the other provinces not-called Buenos Aires, which not only don't have any gibs at all but are consistently punished when it comes to agriculture.

Thanks to some canadian article about how the national team of Argentina doesn't have any niggers a fuck ton of them are chimping out about how we killed them all. I wouldn't be surprised they started using that to attack us.


We're already being invaded by niggers from other South American countries like Paraguay, Bolivia, Peru and Venezuela, even if the majority of the population is against them. They're trying to cuck us even more now: one of the conditions for the IMF was to legalize abortion. Planned Parenthood invested around 5 million dollars already. There's a huge lobby going on right now. We're about to hit the point of no return, and the worst of all, is that we're currently being governed by the allegedly conservative government, which turned out to be like the social democrats of Europe.


Argentina's debt went completely out of control in the 70s during the coup installed by (((Kissinger)))

Yes, slave, fellate your master just a little more why don't you. As long as you know your place is on the ground licking the dirt off the boots of others, it's okay.