Washington DC - The International Monetary Fund announced a $7 billion increase to its credit line to Argentina. IMF lending to Argentina now totals $57 billion, making it the largest lending program in IMF history.
Eric LeCompte is the Executive Director of the religious development group Jubilee USA. He has tracked Argentina debt for the last 10 years. LeCompte releases the following statement:
"The new lending to Argentina is very concerning.
“Argentina has had a difficult history with the IMF, austerity and predatory vulture hedge funds. We don't want history to repeat itself."