Dr Karina Patricio Ferreira Lima’s work on the IMF’s 2018 Stand-By Arrangement with Argentina receives significant media attention

The paper is titled “The IMF’s 2018 Stand-By Arrangement with Argentina: An Ultra Vires Act?”

Together with Chris Marsh (Senior Advisor at Exante Data and former International Monetary Fund official), School of Law academic Dr Karina Patricio Ferreira Lima has published the first study that integrates a macroeconomic critique of the exceptional access Stand-By Arrangement (SBA) with Argentina approved in 2018 by the International Monetary Fund (IMF) into a comprehensive legal evaluation, with resort to general Public International Law, the law of the IMF and, where international law is uncertain, relevant analogies with English private law.  

The article introduces the hypothesis that the SBA violated the core purposes of the IMF as per its Articles of Agreement and, therefore, constitutes an ultra vires act with voidable character under international law.  

The working paper has gathered significant media attention in Argentina and, taken together with its Spanish version, has now become the all-time top paper on the IMF in the Social Science Research Network (SSRN).  

Dr Patricio Ferreira Lima has spoken about her work on Argentine television (C5N; Televisión Pública Argentina; América 24) and radio(Radio Con Vos (FM 89.9); Somos Radio (AM 530); El Destape Radio (FM 107.3); AM 750; Radio Gráfica (FM 89.3); Radio Horizonte (FM 94.5)), as well as in local magazines and newspapers (Revista Crisis, Revista Acción, Ámbito Financiero; Página/12; Télam; Perfil; Tiempo Argentino; BAE Negocios). She was also interviewed on the international podcasts Notes on the Crises, Justicia ImPositiva and The Taxcast. 

Read the working paper - The IMF’s 2018 Stand-By Arrangement with Argentina: An Ultra Vires Act?