IMF about to censure Argentina

[solerboy]

People keep talking about the impending crash that is just around the corner for Argentina. I dont see it myself.

The governent restrictions have increased the dollars the central bank is holding and the import restrictions have led to a trade surplus. The main industry of Argentina is food, and there is an hungry world out there,so any thought that Argentina will have difficulty selling its soy or wheat is just wishful thinking.

I do see the death of the Argentine economy, not as a heart attack (crash) but more like cancer, the inflation will remain unchecked, there is not incentive for Argentines to invest and even less for foreigners, and the value of savings are falling rapidly, the artificially high value of the peso is effecting tourism . The restrictive labour laws dont help. So a slow(ish) gradual decline of the economy, followed by high crime, more poverty and eventual possible civil unrest.

 

[Rich One]

If Argentina does not want to comply with the IMF reviews and other conditions, and continues to badmouth the IMF they are FREE to Quit the organization!!!

 

[arlean]

David Glen, Oops, I didn't say not trade. We are talking about loans from the IMF. What I was talking about was not borrow from foreign banks but only from her own people. Not fall into the trap set for them by the banksters and the John Perkinses employed by them.

I just read that up until after WW I U.S. debt was only to her citizens. There was absolutely no foreign debt. In 1971 foreign interests owned less than 5% of the U. S. national debt. In 1971 I was 34 years old and we had made it that far and prospered fantastically without owing outside banksters. We were not making the bankers wealthy with interest payments but investing that interest right back in our own country.

I don't see why Argentina, with all her natural resources (wealth) couldn't do the same thing. I think they can. (I would comment on why the U.S. "can't" do that but don't get me started!)

 

[joeteixido]

I don't see why Argentina, with all her natural resources (wealth) couldn't do the same thing. I think they can.

I can see why! In a word? corruption. And before the trigger happy "ya talking bad about Argentina" yaahoos load theirs weapons, YES there is corruption everywhere in the world. Here it just seems to be more disclosed and impune. The former more than probably due to the latter.

 

[Crema Americana]

The IMF is the devil and Argentina has suffered at their hands, but let's not forget that it was Argentine politicians that sold them out. Foreign entities like banks and multinationals can only take advantage if the government allows it. Certain politicians lined their pockets, gave public works to their friends, and then left the people holding the bill. That kind of corruption borders on treason.

While I think it's a perfectly good idea for Argentina to stay as far away from the IMF as possible, it doesn't mean that they shouldn't clean their own house and have a little more integrity in the management of the country. Not for anyone else's sake, but for Argentina itself. These economic policies are not sustainable - at least not without a decrease in standard of living.