Argentina’s Ruling Coalition Hopes to Avoid ‘Death by IMF’

Argentina’s Vice President Cristina Fernandez and President Alberto Fernandez stand outside Congress after attending the ceremony marking the year’s opening session, Buenos Aires, Argentina, March 1, 2022 (AP photo by Natacha Pisarenko).
Argentina’s Vice President Cristina Fernandez and President Alberto Fernandez stand outside Congress after attending the ceremony marking the year’s opening session, Buenos Aires, Argentina, March 1, 2022 (AP photo by Natacha Pisarenko).
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In most of the world, the International Monetary Fund is just a multilateral financial institution. In Argentina, in contrast, the fund is a fundamental and highly controversial part of economic and political life. As if to highlight that, the country’s ruling Peronist coalition is currently unraveling from internal divisions following a recent agreement between the government and the IMF, approved only weeks ago. The Peronists returned to power in 2019 due to a clever political move by former President Cristina Fernandez. Aware that she herself was too polarizing, she anointed Alberto Fernandez—a moderate who is no relation—as presidential candidate, while she […]

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