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Thousands rally against decision to seek IMF help in Argentina

by Compiled from Wire Services

ISTANBUL May 25, 2018 - 12:00 am GMT+3
Thousands of people gather near the Obelisk monument in Buenos Aires, Argentina, Friday, May 25, 2018, to protest against the government's decision to seek economic help from the International Monetary Fund. (Reuters Photo)
Thousands of people gather near the Obelisk monument in Buenos Aires, Argentina, Friday, May 25, 2018, to protest against the government's decision to seek economic help from the International Monetary Fund. (Reuters Photo)
by Compiled from Wire Services May 25, 2018 12:00 am

Thousands of Argentines on Friday protested the government's bid to secure a credit line from the International Monetary Fund, which they blame for hardship during a past financial crisis.

Opposition parties, unions, human rights organizations and artists took part in the march near the capital Buenos Aires' emblematic obelisk, under the banner "the country is in danger."

President Mauricio Macri announced earlier this month that Argentina would start talks with the IMF and seek a credit line to finance his government. It followed a sharp devaluation of the peso currency.

But the decision has brought back bad memories for Argentines. Many blame the IMF for introducing policies that led to Argentina's worst economic crisis in 2001.

Many Argentines blame IMF-imposed austerity measures for worsening the crisis, which impoverished millions and turned Argentina into a global pariah after the government defaulted on a record $100 billion in debt.

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