At that time
At that time, Argentine authorities looked to the IMF in desperation. It wasn’t the time that is first Argentina looked to the IMF in 2000 whenever, after 36 months of recession, it had been struggling to program its massive financial obligation. The IMF conditioned its loans on financial investing cuts, accelerating Argentina’s downturn that is economic making the huge December 2001 crisis that accompanied unavoidable.
Very little has changed during the IMF within the 18 years since Argentina’s experience that is last. In mid-June 2018, Argentina had signed a three-year stand-by contract for $50 billion, the loan that is largest when you look at the IMF’s history. Read more