Sergio Massa blames the IMF for currency devaluation | News

The Minister of Economy of Argentina and candidate for the presidency of Union for the Fatherland (UxP), Sergio Massa, blamed the International Monetary Fund (IMF) for the devaluation of the national currency starting last Monday.

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In an interview with the Argentine media, Massa pointed out that the devaluation constitutes "a very unpleasant decision due to the imposition of the Monetary Fund" while he rejected that the increase in the dollar "is immediately transferred to the people."

In turn, he stressed that the international financial mechanism, which he described as "a huge necklace of watermelons on the back of Argentines", works as "the trustee of a call, which every three months looks at your accounts."

"We have dedicated these first four days to achieving the stabilization of macro variables, including financial dollars; the next four days will focus on price stabilization, and in the following four days we will have decided on compensation for those who were affected by their income from the devaluation," he said.

On the other hand, he recalled that Argentina's obligations to the IMF were generated from the loan of more than 40,000 dollars that the entity delivered to the Government of former President Mauricio Macri (2015-2019) and generated part of the current difficulties that it faces the national economy.

Similarly, Massa addressed the need to make the State effective in the face of the statements of the far-right candidate of La Libertad Avanza, Javier Milei, who considers the State "as an enemy."

"Those of us who believe that the State has to protect the people have to take care of it so that those who want to destroy it have no arguments to do so," stressed the UxP candidate.

At the beginning of this week, the Argentine government announced a price agreement with companies that will be in force for 90 days and will allow increases of up to five percent per month in order to stop the devaluation of the currency.