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Lagarde Defends IMF’s Argentina Effort as Doing ‘Best We Could’

  • Former head says IMF is scapegoat when things go wrong
  • She adds that program was derailed by political development
Christine Lagarde speaks during a Bloomberg Television interview in New York on Sept. 24. 

Christine Lagarde speaks during a Bloomberg Television interview in New York on Sept. 24. 

Photographer: Victor J. Blue/Bloomberg

Christine Lagarde defended the International Monetary Fund’s decision to give Argentina a record credit line last year even after the $56 billion program fell short of stabilizing the nation’s troubled economy.

“We did the best we could at the time when Argentinian leaders came to us with a very difficult situation,” the former IMF managing director and soon to be European Central Bank chief told Francine Lacqua in an interview with Bloomberg Television in New York.