Former IMF official says Argentina will not pay the Fund

FILE PHOTO: Argentina's President Alberto Fernandez speaks at the Casa Rosada presidential palace, in Buenos Aires, Argentina September 20, 2021. Juan Mabromata/Pool via REUTERS

NEW YORK (Reuters) - A former official at the International Monetary Fund said Argentina is "not going to pay" the Fund and any agreement between the two will be a "temporary Band-Aid" that will only delay a run on banks in the South American country.

"Argentina is not going to pay the IMF. Argentina is not going to do good macro-micro institutional policies," said Alejandro Werner, who was the head of the IMF’s Western Hemisphere Department for nearly a decade before he left in August.