Hundreds protest in Argentina against IMF deal

BUENOS AIRES

Hundreds of protesters marched in Argentina’s capital Buenos Aires on Wednesday to denounce the government’s recent $44 billion deal with the International Monetary Fund (IMF) to help restructure its debt payments.

Answering a call by trade unions, they gathered in the city center and marched from May Avenue to the Palace of the Argentine National Congress.

Chanting anti-IMF slogans, the protesters held banners saying "No to IMF debt repayments."

The debt agreement is "fraud," Carlos Peiro, a union leader, told Anadolu Agency. "This debt is the surrender of sovereignty ... The IMF will act as a sub-government, and we totally reject that."

The government reached a deal with the IMF to revamp a failed 2018 loan during the presidency of Mauricio Macri when Argentina received a $57 billion loan because of a deep economic crisis.

According to the IMF, the Extended Fund Facility, with requested access of Special Drawing Rights aims to provide Argentina with the balance of payments and budget support to address the country’s most pressing economic challenges and enhance the prospects of all Argentines by implementing measures designed to promote growth and protect essential social programs.