Post by
Teakbois on Feb 04, 2022 3:35pm
Argentina/IMF Agreement Reached
With annual inflation at 50%, the IMF demanded no spending cuts/austerity measures. Its main goal is to help reduce inflationary pressures. Still, finalizing the deal involves a $2.9 billion debt payment due late March. VP Kirchner does not like the agreement and her son, head of a ruling coalition, resigned reversing some of the recent positive gains made in the financial markets. Plans are to increase energy costs "only" 17% at the same time for gradual removal of overly generous subsidies to energy companies. President declares success/particulars as to how goals will be met not yet written. Must be approved by congress and IMF. President wants to be careful taxing mining industry as it was one of two economic positives. Recent interest in copper, lithium, gold silver projects. Mining company investment must address social/green issues/where regulation is mainly a function of the local jurisdictions.
Good luck trying to figure this one out!