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Potential Setback For Argentina-IMF Deal As Kirchner Resigns

ARGENTINA
  • In Argentina, the understanding between the government and the International Monetary Fund suffered a setback on Monday.
  • Lawmaker Maximo Kirchner, son of Vice President Cristina Fernandez de Kirchner, resigned from his post as head of the ruling coalition’s bloc in the lower house, in protest of the initial agreement with the Fund. The Government needs the support from the Congress to approve the program with the multilateral organization. (BBG)
    • “This decision is born from not sharing the strategy utilized, and much less the results obtained, in the negotiations with the IMF, led exclusively by the economic cabinet,” Maximo Kirchner, a key voice in the ruling coalition’s far-left wing, wrote.
  • Comments from the President following the decision:
    • Frankly I told him it wasn’t necessary,” to step down, said Fernandez, who insisted he obtained the best deal possible with the IMF. “Maximo told me his differences on this issue.”
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