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Reuters
Reuters
Business
By Horacio Soria and Claudia Martini

Argentina president, protesters slam IMF debt, austerity as economy creaks

FILE PHOTO: A demonstrator throws a stone during a protest outside the National Congress, as members of the parliament debate the government's agreement with the International Monetary Fund (IMF), in Buenos Aires, Argentina March 10, 2022. REUTERS/Agustin Marcarian

Argentine President Alberto Fernandez and protesters in Buenos Aires pushed back against the International Monetary Fund (IMF) on Thursday amid heightened tensions with the lender as the country faces nearly 109% inflation and dwindling dollar reserves.

The South American grains producer, which has a strained history with the IMF, agreed to a $57 billion program with the Washington-based body in 2018 under former conservative leader Mauricio Macri to stave of economic crisis. That failed and was replaced by a new $44 billion deal last year.

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