Argentina fears the IMF

The IMF or the International Monetary Fund only brings back bad memories in Argentina.

It is almost a bad word, which is associated with adjustment policies and the worst financial cataclysms.

“It’s like going back”, “It’s more of the same”, was heard in the streets of Buenos Aires almost at the same time that President Mauricio Macri announced on television that he will ask for a financial rescue from the Fund , the first in 15 years.

Argentines have reason to be skeptical.

The first loan that the Fund gave to the South American country was in 1957, to a military government.

Since then, their presence has accompanied each of the economic crises that are shaking Argentina in a cyclical way.

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