In 2018, Macri and his allies from Juntos por el Cambio (Together for Change) contracted the largest debt in history with the IMF and loaded it on the backs of generations of Argentinians, Fernandez asserted on his Twitter account.
He recalled that his predecessor took the questioned loan “after being indebted to private creditors for more than 100 billion dollars. He did so with the excuse of lifting that liability, but in reality most of that money was destined to capital flight”.
Despite the dollars received, no reserves were left and no hospitals, schools, bridges or roads were built. Everything vanished in the hands of speculators and with the passivity of the then government, Fernandez noted.
He pointed out that when he assumed the Presidency of the nation, the situation threatened the Argentinian economy.
We restructured the debt with private creditors and agreed to refinance the IMF debt. We did not acquire any of those commitments, but paying without an agreement was impossible, he stressed.
This year we had to deliver 19 billion dollars. Failure to do so would lead us to a default that would irremediably paralyze the country’s growth, he added.