Javier Milei Ended a DC-Sized Deficit in...Nine Weeks

[NeoWonk]

Argentina carries the most IMF debt of any country in the world. How such a small country in GDP and population can be the largest IMF debt holder boggles the mind. How many of the politicians got kickbacks from these repeated debt injections. Argentina should thoroughly investigate any kickbacks to politicians and if they can find it, Argentina should default on the IMF debt. And the politician should be jailed for life. Of course now, kickbacks can be done in bitcoin and are very hard to prove...

 

[hankscott]

Our brilliant Harvard and Oxford educated economists and central bank PhDs have been trying for decades to balance the budget, and yet little ole Javier Milei did it in only 9 1/2 weeks.

They're already talking about the "Belgrano School of Economics" displacing "The Chicago School of Economics" as the preeminent macroeconomic theory.

Javier Milei Ended a DC-Sized Deficit in...Nine Weeks | Mises Institute

How did he do it? Easy: he cut a host of central government agency budgets by 50% while slashing crony contracts and activist handouts.

mises.org

Yes, and 67% of the country’s children live in poverty and shipments of food to food banks have stopped. Starving the poor is an easy way to reduce a deficit . The GOP in the USA has tried that for years

 

[Reply Guy]

The IMF had decades to get Argentina to reduce the size of the public sector in exchange for loans - they never did it.

The IMF failed the Argentine people and hopelessly indebted them.

The purpose of the IMF isn't to better a country. It's to keep them subservient to the US and Western European powers.

China has their own version of this as well.