According to the block of Union for the Homeland (UxP), the Minister of Economy, Luis Caputo, has generated controversy by stating that the current situation regarding the debt with the IMF is unprecedented in Argentina. However, just seven years ago, he denied the possibility of requesting loans from the agency, but two months later, President Macri announced the acquisition of the largest loan in the history of the country.
UxP has expressed its concern about incurring new debt without the approval of the National Congress, which they consider illegal and illegitimate. They warn that the current economic team is the same one that was present during Macri's government and signed agreements whose consequences were detrimental to Argentina.
The opposition block points out that relevant details, such as the amount of the loan, the destination of the funds, the interest rate, or measures to prevent capital flight, have not been specified. They believe that this lack of transparency threatens the sovereignty of the country and violates the Constitution.
In this context, UxP has reported that the use of a Decree of Necessity and Urgency (DNU) to authorize negotiations with the IMF constitutes an encroachment on the powers of Congress. They remember that in 2021, the law to Strengthen the Sustainability of Public Debt was approved, which stipulates that any agreement with the IMF must be authorized by a law from the Congress.
The block has warned those who support this measure that they will be condemning the Argentine people to more austerity, hunger, and repression. They believe that the use of the DNU to validate a new agreement with the IMF goes against the law and the constitutional norms of the country. Given the lack of transparency regarding the conditions of the loan, UxP has urged to provide clarity on what is promised in exchange for these 'fresh funds.'
