Argentine minister calls IMF advice ‘offensive’

 

Argentina's already icy relations with the IMF have taken a turn for the worse, with a top government official calling the lender's advice "offensive" and saying more time was needed to end a long recession.

"Just a few days after we came into government, Ms Krueger sent us a letter, which itself was quite incoherent, bringing up a series of points. It was unclear whether they were demands or not. I consider it to be offensive for Argentina," Mr Todesca told local radio.

"They (the IMF) should really talk less, especially if they have nothing interesting to say, and they should let us work for a couple more days so we can stabilise the economy," Mr Todesca said. "Then we will have a plan to present to the Fund, so we can recover international aid."

In December the IMF froze $1.3 billion in aid to Argentina after a previous government could not rein in budget overspending.

Argentina is mired in a four-year recession that has forced it to devalue its peso currency and default on part of its $141 billion debt.