Paul Lachine

El Fondo no debe prestarle a Europa

BUENOS AIRES – Un rumor que rápidamente desmentido indicó que el Fondo Monetario Internacional estaba a punto de ofrecer a Italia un paquete financiero de 600mil millones de euros (803mil millones de dólares) para dar tiempo al nuevo gobierno de Italia a implementar su programa de ajuste cubriendo sus necesdades financieras de los próximos dieciocho meses. Salvo por la magnitud del paquete, el mismo no difería de los programas de ajuste del Fondo que nos hemos habituado a ver (y a criticar) en países en desarrollo.  Pero hay aquí una diferencia crucial: Italia es parte de un club muy selecto que realmente no necesita fondos externos de rescate.

Hasta ahora los programas de la periferia de Europa fueron liderados, y en gran medida financiados, por gobiernos europeos. En ellos, mas allá de una contribución financiera marginal, el verdadero rol del FMI fue actuar como consultor externo: el que le impone al país en cuestión las condiciones que el resto ni quiere pronunciar.  En claro contraste con esa función, se observa hoy un intento de movilizar a través del Fondo una masa sustancial de recursos internacionales para financiar los programas de Europa.  Esto ha sido explicitado por los ministros de Finanzas de la Eurozona, cuando en noviembre instaron a incrementar los recursos del organismo de forma tal que la institución pueda “cooperar más estrechamente” con el Fondo de Salvataje Financiero de Europa. De ahí que la historia del paquetazo italiano financiado en su mayoría con recursos no europeos, si alguna vez ve la luz, marcaría un antes y un después: Europa, tal parece, está decidida a resolver sus problemas utilizando dinero ajeno.

Existen, a nuestro parecer, por lo menos tres razones por las que el FMI debe resistir la presión y abstenerse de incrementar su ya extremadamente alta exposición al viejo continente.

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