The IMF approves the agreement with Argentina, but Ukraine and the Peronist fracture raise doubts about its solidity

• Argentina The president announces "battle" against "speculators and the greedy" and asks his ministers to lower inflation

After more than two years of laborious and tense negotiations, the board of

approved this Friday a new loan to Argentina, the twenty-second in the history of the South American country.

The good news comes together with the bad: the war in

and the exposed fracture of Peronism, with President

in the sights of the followers of

suggest that the agreement will not be fulfilled.

According to

the agreement for 45,000 million dollars is an "Extended Facility loan (EFF) of Exceptional Access (for the amount of the amount) and sets a grace period of four and a half years, so that the first payments will be made from 2026 and will last until 2034".

Officials of the organization define the agreement as "realistic, pragmatic and credible", although in

one fact was not overlooked: the loan was approved in Parliament with the practically unanimous support of the social-liberal opposition grouped in the coalition Together for el Cambio and rejected by the deputies and senators of Kirchnerism, the most radicalized wing of Peronism, which responds to Vice President Fernández de Kirchner.

The last days evidenced that fracture with even more clarity.

Various leaders close to the former president, including her son,

who resigned weeks ago as spokesperson for Peronism in Parliament, are pointing out two things to President Fernández.

One, that if he is in the

it is because his vice president nominated him for that position that he did not even dream of.

The other, that he is governing against the interests of Kirchnerism, and that therefore he is heading for a defeat in the 2023 presidential elections.

The question that has been circulating in recent days in the circles of Argentine political and economic power is whether Fernández will resist the pressure of his vice president or will throw in the towel before December 10, 2023.

"The president must prepare to withstand very strong pressure in the coming weeks," one of the most experienced leaders of Peronism, a good connoisseur of the vice president and the head of state

, told

In this context, the position of the Minister of

is increasingly weak.

Fernández supports him, but a good part of the government questions his negotiating methods and, above all, the results he obtained.

The third largest economy in

grew by 10.3% in 2021 after having fallen by 9.9% due to the pandemic the previous year.

Runaway inflation is approaching 60% per year.

"The plan that (Guzmán) brought to Washington did not convince anyone, and if it happened it was only because it was the best of the bad options. Reluctantly and with reservations, the Fund - where the final decisions are always political - endorsed it , just as he did with (former president Mauricio) Macri's plan," analyst

said this Friday in

"The agreement is born condemned to be recalibrated -adds Mathus Ruiz-. Its numbers were put together before Vladimir Putin's invasion of Ukraine, in another world, with another inflation, and another price of gas, which Argentina needs to import in the winter (...). In the government they already recognize that the plan will have to be adjusted, a fate they see for Argentina and the rest of the countries that have a program with the Fund. The end of the negotiation is the prologue of a new one."

The markets reacted positively to the announcement, although without exaggerating.

The country risk fell slightly, but remains at very high levels, around

The Buenos Aires Stock Exchange

and sovereign bonds improved their price for the second consecutive day.

The confirmation of the agreement with the IMF comes after Guzmán closed a renegotiation with the

postponing the bulk of the maturities for two and a half years.

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Know more

• IMF

• Argentina

• Ukraine

• Vladimir Putin

• Argentine Elections

Economy The Argentine president announces "battle" against "speculators and the greedy" and asks his ministers to lower inflation

War in Ukraine "Putin is a devil, we do not want a dictatorship"

ProfileVolodimir Zelensky, President of Ukraine: from comedian to Putin's "number one target"

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