Argentines protest against IMF agreement outside Congress

LONDON

Argentines mobilized outside Congress in the capital Thursday to protest against a $45 billion agreement with the International Monetary Fund (IMF).

Many of those who marched through the streets of Buenos Aires belonged to leftist organizations and held placards, shouting "No to the IMF!”

The protestors decried what they regard as the potentially negative impact of the recently agreed deal between the IMF and Argentina's government, which still needs to be approved by Congress.

Some incidents of violence and confrontations with police were reported in the afternoon.

A few people set fire to car tires and rubbish in the area, with some reports of Molotov cocktails being set off.

Some threw stones at Congress which struck the office of Vice President Cristina Fernández de Kirchner and other offices belonging to lawmakers.

The incidents took place as lawmakers in the lower house debated the IMF bill, which is expected to be eventually approved.

Security forces detained a number of protestors during the day.

In 2022, Argentina will need to repay around $18 billion to the IMF as the country seeks to resolve its deep financial crisis with high inflation and the socioeconomic impact of COVID-19.

The new deal between Argentina and the IMF will replace a historic $57 billion deal and will help the country avoid a potential default, with a range of targets oriented towards lowering Argentina’s fiscal deficit and reducing energy subsidies.

Earlier in the day, presidential spokeswoman Gabriela Cerruti described the IMF deal as the "best possible solution" to resolve issues which she said Argentina did not create "but that we have the political responsibility to resolve.”

In Argentina, some regard the multilateral credit organization as a catalyst for driving austerity measures and increasing poverty, notably following the financial crisis that hit the country hard between 2001-2002.

Thursday was the second day of large-scale protests in the capital as protestors answered calls by trade unions and social movements, mobilizing to protest the deal in the city center and marching from Avenida de Mayo to the Palace of the Argentine National Congress.