International Monetary Fund

The shout of emergent towards the IMF 2 September 2009 the BCRA to turned for the first time into decades in an anchor of stability for all the citizens who inhabit in Argentina, Martin Redrado President of the Central bank of the Argentine Republic (BCRA). One of the subjects that more debate has generated in the Monetary and Banking Days of the BCRA, has been the policy of accumulation of international reserves on the part of the emergent economies. At the beginning of 2006, when Argentina decides to cancel its debt with the International Monetary Fund (the IMF), by an amount considered in US$ 9,810 million using for it part of the international reserves, in the country a great debate around the alternative uses had been generated that could be given them to these reserves in an economy with so many needs as it is it (and it was at this moment) the Argentine economy. Memory even that the subject had been strained until in familiar char them, in which it saw me forced to explain and to defend the nonuse of the international reserves for cost public in the form of road construction, plants of energy or new hospitals. Certainly it is difficult to explain to him to common of people the importance that stops a country represents to have kept so many thousands from million dollars while unemployment grows and the economy stagnates. I do not have doubts in affirming that Martin Redrado was due to feel in certain form to taste with the numerous episodes of turbulences that has been called on to him to face. When the economy grew with force and nothing made suspect the imminence tense situations for the markets, those that criticized to the policy of the Central bank of the Argentine Republic, concentrated in accumulating international reserves were not few.

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