Will the IMF be left crying over Argentina?

摘要

The International Monetary Fund's MANAGING DIRECTOR, CHRISTINE LAGARDE, has worked hard to change the institution's image of imposing hardline economic conditions on borrowers at whatever social and political cost. But she will have her work cut out to retain that new sense of moderation in dealing with the crisis in Argentina. The fiscal squeeze imposed as a condition of the IMF's $57bn package, the largest ever, could end up in a populist backlash that puts the Peronists back in power in the 2019 elections. Silvia Pavoni considers the various outcomes of Argentina's rescue in this month's cover story (see page 20).