Cargoes inherited from the Kirchner era cost Argentina billions

Cargoes inherited from the Kirchner era cost Argentina billions

Several lawsuits related to the Kirchner era are ongoing against the heavily indebted country. These are manipulated inflation and growth values, as well as the strange entry of the Eskenazi banking family into the state oil company YPF. An expensive blunder or a gigantic corruption maneuver?

As if Argentina didn't already have enough problems. Inflation was 211 percent in December and prices rose another 20 percent in January. Importers owe their foreign suppliers US$42.6 billion. The International Monetary Fund (IMF) wants $45 billion back and demands that Finance Minister Luis Caputo build $10 billion in reserves. The Argentine State's responsibilities towards the IMF, the Paris Club (an informal body for restructuring state debt) and the Chinese government, as well as towards private investors, especially large Wall Street funds, amount to more than 400 thousand million dollars.

But that is not all. There are several legal cases against Argentina that concern the years 2003 to 2015, when the Kirchners governed. This is false inflation and manipulated growth values. And it is a situation that some consider an expensive mess, others a gigantic corruption maneuver. One thing is certain: Argentina will have to pay 16.1 billion dollars that it does not have.

Pay debts

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