As expected, the Fund's Board of Directors approved the review of Argentina's program, although it made it clear that Massa failed to meet all goals. The IMF applauds the fiscal effort promised by...
Between a rock and a hard place
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Between a rock and a hard place
Argentina has been shocked due to the notebooks affair, which describes in detail the payments of many contractors to the Kirchner administration. The affair has a variety of implications, which go in opposite directions. On the political front, it does provide some relief to the government as it diverts the attention from the economy to the implications of the affair. It is also likely to inflict a serious blow to Cristina’s chances for next year’s presidential elections, as she is likely to lose a large part of the independent voters, which are crucial to win the elections.