Argentina’s Government Needs to Speak With One Voice on Debt
Resolving its economic crisis requires a plan, not a public passion play.
Some harmony would be nice.
Photographer: Emiliano Lasalvia/AFP via Getty Images
Anywhere else, news that a cratering economy, a collapsing currency and evaporating international reserves had pushed sovereign debt to “unsustainable” levels would be occasion for national dread. Yet the International Monetary Fund’s woeful bill of health on Feb. 19 brought relief and even something close to exaltation to the governing halls of Argentina.
“I celebrate the IMF for recognizing the Argentine position regarding debt,” President Alberto Fernandez said on Twitter late Wednesday, shortly after the Fund concluded a weeklong visit. “If all parties are willing to agree, we can return to growth, honor our commitments and put Argentina on its feet again.”