News Wire

Thousands protest Argentina’s negotiations with IMF

BUENOS AIRES (Reuters) – Thousands of Argentines on Friday protested the government’s bid to secure a credit line from the International Monetary Fund, which they blame for hardship during a past financial crisis.

Opposition parties, unions, human rights organizations and artists took part in the march near the capital Buenos Aires’ emblematic obelisk, under the banner “the country is in danger.”

The protest is the latest of several organized since President Mauricio Macri announced on May 8 that he had started financing negotiations with the IMF after weeks of market volatility.

The unexpected move surprised investors and stoked Argentines’ fears of a repeat of the nation’s devastating 2001-2002 economic collapse.

Many Argentines blame IMF-imposed austerity measures for worsening the crisis, which impoverished millions and turned Argentina into a global pariah after the government defaulted on a record $100 billion in debt.

(Reporting By Nicolas Misculin, Writing By Mitra Taj; Editing by Susan Thomas)

 

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