Alberto Fernandez criticizes the IMF for applying interest increases and asks to change the international financial system

MADRID, September 20 (EUROPA PRESS) –

The president of Argentina, Alberto Fernandez, has criticized the International Monetary Fund (IMF) for applying interest increases and has called for a change in the “abusive” international financial system.

“The IMF cannot raise its interest rates every time the American Federal Reserve (of the United States) raises its rates to contain inflation in its country. In this context, it is shameful that even today they apply surcharges to many countries that are already It makes it unbearable for them to carry the backpack of foreign debt,” Fernandez said during his speech during the 78th UN General Assembly.

Furthermore, he explained that “when a people is suffocated” through debt, it becomes “uncollectible” and enhances the emergence of social crises.

“International financial engineering appears abusive and intact (…) the international financial system does not demonstrate the will to adapt to a world that wants to recover lost equity (…) it only serves to concentrate income and marginalize vast regions of the world “added the Argentine president.

Fernandez has assured that “the world is undergoing a time of change” in a context in which some countries are still carrying the effects of the pandemic, to which are added the climate crisis and the war in Ukraine, which in turn has caused an energy and food crisis “of tremendous proportions.”

Based on this, he has conveyed to the assembly his commitment to multilateralism to “find solutions to common problems”, and has insisted on a “fairer” international trade system for agricultural products.

FERNANDEZ ASKS NOT TO IGNORE THE SITUATION OF NAGORNO KARABAK

The Argentine president has asked the international community not to ignore the situation in the self-proclaimed republic of Nagorno Karabakh, which this Tuesday was invaded by Azerbaijan, and which was previously blocked by Baku.

Furthermore, he recalled that the General Assembly has once again approved “by an overwhelming majority” the withdrawal of the blockade of Cuba by the United States.

In relation to this, it has requested the exclusion of Cuba from the list of countries sponsoring international terrorism and the cessation of United States sanctions on Venezuela.

Finally, he has once again claimed Argentina’s sovereignty over “the Malvinas Islands, South Georgia Islands, South Sandwich Islands and the surrounding maritime spaces”, occupied “illegally” by the United Kingdom.