The disastrous Argentine legacy of ex-IMF boss Christine Lagarde
In July 2018 Christine Lagarde, then managing director of the International Monetary Fund, sanctioned a loan totalling 56 billion dollars to Argentina. Yet today the South American country's economy is once again on the verge of collapse. Mediapart's Martine Orange looks at this dismal financial legacy of the former French finance minister who is now at the helm of the European Central Bank.
ItIt is an increasingly embarrassing dossier that Christine Lagarde would doubtless rather forget. In July 2018, as managing director of the International Monetary Fund (IMF), Lagarde, who had been France's finance minister under Nicolas Sarkozy and who is now at the helm of the European Central Bank (ECB), approved a loan that would eventually total 56 billion dollars to Argentina. It was the biggest loan ever granted by the international financial institution.
