The IMF Has Learned Nothing from the Greek Crisis

To learn one must have the ability of critical thinking.

Rigged Game

Argentina has now become dependent on IMF funding – and the IMF has committed to lend by far the largest amount of money in its history.

By Frances Coppola and cross-posted from Forbes

The IMF has just published a new review of Argentina’s economy. It is grim reading. Argentina is in trouble: economic conditions have worsened considerably since the last IMF review, back in June 2018. But the review also reveals that the IMF could be in even bigger trouble. It is repeating the same mistakes it made in the Greek crisis – but with a much larger amount of money at stake.

Argentina has been struggling all year. A drought has severely curtailed agricultural production, widening the current account deficit and triggering a mild recession. Concurrently, Fed interest rate rises and a booming U.S. economy have driven up the U.S. dollar, making it ever more expensive for Argentina…

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