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Cristina Kirchner criticizes Milei for new agreement with the IMF.

The former president accuses the government of repeating Macri's strategy and questions Milei's justifications regarding external debt.

Cristina Kirchner in Mexico City 3/8/2024 REUTERS/Luis Cortes (Photo: REUTERS/Luis Cortes)

247 - Former Argentine President Cristina Kirchner launched harsh criticism against President Javier Milei after the announcement of a new agreement with the International Monetary Fund (IMF). In a series of social media posts, Kirchner stated that Milei, who presents himself as a defender of economic liberalism, ended up resorting to the same debt practices as former President Mauricio Macri due to the scarcity of dollars in the Argentine economy, reports [source name missing]. C5N.

"Milei, in the end, you ended up doing the same thing as Macri. The Austrian School experiment failed, you're in dire straits because you're short of dollars and you've thrown in the towel asking for a loan from the IMF," wrote Cristina, highlighting what she considers a contradiction in the current president's actions.

The former president also criticized an opinion column written by Milei last Saturday (8), where the president justified that the IMF resources would be used to pay off part of the Treasury's debt with the Central Bank. According to Milei, this operation would contribute to eliminating inflation. However, Cristina Kirchner questioned the logic of this explanation, pointing out that obtaining new external resources inevitably increases public debt.

"You want to explain the inexplicable: that you will ask the IMF for billions of dollars without generating new debt, because with those dollars you will pay the Non-Transferable Bonds that the Treasury owes to the Central Bank. Are you really saying that they will give you billions of dollars and that Argentina's external debt will not increase?", Cristina retorted.

The former president compared Milei's strategy to Macri's, recalling that, during his administration, the government justified taking on new external debt under the promise of balancing internal deficits, which resulted in a record loan of US$57 billion requested by the then Minister of Economy, Luis "Toto" Caputo.

The clash between Cristina Kirchner and Javier Milei reflects the deep political divisions in Argentina, especially regarding economic policies. While Milei advocates for radical fiscal adjustment measures and alignment with international financial organizations, the former president and sectors of Peronism warn of the risks of a new debt cycle that could compromise the country's economic sovereignty.

The new agreement with the IMF still needs to be detailed by the government and approved by Congress. Meanwhile, the opposition promises to maintain pressure on Milei, demanding more concrete explanations about the impacts of the operation on the Argentine economy.

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