![IMF says Argentine austerity should not hurt the poor](https://www.berlinertageblatt.de/media/shared/articles/cc/43/57/IMF-says-Argentine-austerity-should-177474.jpg)
-
Spacecraft to swing by Earth, Moon on path to Jupiter
-
What's the fallout of Mexican drug lords' capture?
-
Video game makers see actors as AI 'data,' says union on strike
-
Chinese qualifier Shang to face Thompson in ATP Atlanta semis
-
Concern grows as Venezuela blocks election observers
-
'Massive attack' on French rail threatens more chaos
-
'We did it!': France breathes sigh of relief after Olympics ceremony
-
Blinken, in Laos, set for talks with Chinese foreign minister
-
Regional concern grows as Venezuela blocks vote observers
-
Historic river parade, Dion show-stopper ignite Paris Olympics
-
Rainy Paris Olympic parade dampens many spectators' spirits
-
G20 pledges to work together to tax ultra-rich
-
The one of a kind Paris opening ceremony: five memorable moments
-
Justin Timberlake seeks to dismiss DUI case
-
Warner Brothers Discovery sues NBA over Amazon rights deal
-
Kobe Bryant locker, Maradona jersey up for auction in New York
-
Historic river parade launches Paris Olympics
-
Stocks rise as US inflation data boosts rate cut hopes
-
New York family of Holocaust victim reclaims Nazi-looted art
-
NASA Mars rover captures rock that could hold fossilized microbes
-
Thousands evacuate season's biggest wildfire in northern California
-
Sinaloa Cartel co-founder pleads not guilty after stunning US capture
-
Ethiopia mourns victims of landslide tragedy
-
Lady Gaga adds sparkle to star-studded Olympic show
-
Airbus and Boeing supremacy secure despite turbulence
-
Teams sail down Seine in rain-soaked Olympics opening ceremony
-
Norris hoping for more after topping Belgian practice times
-
West Indies' treble strike rocks England in third Test
-
Trump slams rivals as he meets Netanyahu in Florida
-
Olympic opening ceremony under way on River Seine
-
Mott's England future uncertain as ECB chief fails to offer support
-
Trump meets Israeli PM Netanyahu in Florida
-
S.African police say 95 Libyans detained at suspected military camp
-
Blinken set for talks with Chinese counterpart in Laos
-
Norris heads Piastri in McLaren one-two at Belgian GP practice
-
G20 seeks common ground on taxing super-rich
-
European medicines watchdog rejects new Alzheimer's drug
-
Harris gets vital Obama backing in battle against Trump
-
Habib, Ebden eye Alcaraz and Djokovic shocks at Olympics tennis
-
Stocks rise as inflation data boosts rate cut hopes
-
Long queues, ticketing problems ahead of Paris opening ceremony
-
Two Sinaloa Cartel leaders face US charges after stunning capture
-
Spain train driver jailed for 2.5 years over deadly 2013 crash
-
Paris poised for Olympic opening ceremony spectacular
-
Judoka fails doping test in first case at Paris Olympics
-
Holder and Da Silva keep England at bay after West Indies collapse
-
Alpine F1 boss Bruno Famin to leave in August
-
Ethiopia declares three days of mourning after landslide tragedy
-
Brazilian dunes dotted with dazzling pools make UNESCO heritage list
-
Rain, cooling slow huge blaze in Canada's Jasper park
![IMF says Argentine austerity should not hurt the poor](https://www.berlinertageblatt.de/media/shared/articles/cc/43/57/IMF-says-Argentine-austerity-should-177474.jpg)
IMF says Argentine austerity should not hurt the poor
The International Monetary Fund has urged the government of Argentine President Javier Milei to shield the poor as he pursues harsh austerity measures to cut government spending, according to an interview published Sunday.
The IMF has praised Milei's government for efforts to balance the books after years of overspending, but his drastic measures have led to strikes and raised concerns about growing hunger.
IMF deputy managing director Gita Gopinath told La Nacion newspaper that austerity measures must be "calibrated to ensure that social assistance continues to be provided and that the burden does not fall entirely on the poorest groups."
Gopinath visited Buenos Aires last week to evaluate Argentina's $44 billion credit program and met with Milei, members of his government, economists, union leaders and civil society organizations.
Since taking office in December, the libertarian Milei has devalued the peso by over 50 percent, cut tens of thousands of public jobs and halved the size of the government.
He also ripped away generous state transport and energy subsidies and froze aid to 38,000 soup kitchens pending an audit, hitting the poor hard as annual inflation soared to 254 percent.
"The economy that this government inherited was close to a crisis, and required bold and decisive action to move it away from the precipice," said Gopinath.
However, she said more social measures were needed to "ensure that the reduction of the fiscal deficit does not fall on the vulnerable."
Gopinath estimated Argentina's monthly inflation -- which stood at 20 percent in January -- would drop to single digits by the middle of 2024.
"But I think it will take at least a year to bring inflation to low levels, and then maintaining it at those levels until 2025 will also require efforts."
She said that for the IMF, it would be "critical" for the government to invest in human capital.
"Child poverty rates of more than 55 percent are extremely worrying. It is important to ensure that this percentage drops greatly and to be able to invest more in education."
G.Schulte--BTB