Macri Weighs Political Cost of Returning, Cap in Hand, to the IMF
- Specter of fund’s role in 2001 debt meltdown still lingers
- Confidence in the government is already at an all-time low
President Mauricio Macri
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
Argentina’s request for help from the International Monetary Fund will likely impose a political cost on President Mauricio Macri.
Macri had little choice but to turn to the IMF after the currency plunged, the budget deficit expanded and borrowing costs rose. But the decision, announced via a televised address to the nation on Tuesday, brought back bad memories to many Argentines.