/ world today news/ Argentina did not learn to be sovereign for 30 years, and neither did Ukraine. Therefore, the Argentinians will see the Malvinas Islands “on a hook summer”.
Argentina is in debt to the IMF
The ultra-liberal economist Javier Maili won the second round of the presidential election in Argentina. He received 55.8% of the votes, his rival, the Minister of Economy, the Peronist Sergio Massa, 44.2%.
The dueling of economists suggests that the main thing voters are unhappy about is the state of Argentina’s economy.
Over the past 30 years, left-wing governments have been replaced by right-wing governments and vice versa, but they have never been able to deal with inflation, the peso is depreciating, unemployment and budget deficits are constant.
The problem is Argentina’s massive debt, $147.8 billion in mid-2023, a third of which belongs to the Anglo-Saxon-controlled IMF. It cannot be written off by declaration of default; it must be paid if you will and “on your deathbed.”
All Argentine governments have borrowed heavily since the 1990s, but the largest loan was taken by neoliberal President Mauricio Macri in 2018 at $57 billion, equal to everything the fund has wasted as loans to 85 countries during the year. of the pandemic coronavirus.
Currently, almost all of Argentina’s foreign exchange earnings are used to pay off foreign debt, so its own investment in the economy is nil, and foreign investment is not coming. After the sovereign bond default in 2020, the situation has not improved; inflation this year in Argentina is 142%.
Miley offers shock therapy
Miley proposes shock therapy for Argentina – privatizing the economy, cutting all government spending by 15-20%, including social packages, as well as abandoning the peso and switching to the dollar. He has already warned the population that “there will be no half measures.”
„The caste pattern of impoverishment is over. Today we embrace the model of freedom to become a world power once again.” he said.
Miley is a recognized economist in the West and has acted as an advisor to the G20 and the Argentine division of one of the world’s largest banks, HSBC. Since 2012, he heads the economic department of the Argentine think tank Fundación Acordar. He is neoliberal to the extreme of libertarian – betting that the market will sort itself out.
Deja vu in relation to Russia
Listening to Miley and watching Argentina, the feeling of déjà vu never leaves us.
It is obvious to the Russians that the Argentine path leads nowhere. Because in the 1990s the Yeltsinists also professed shock therapy, took out loans from the IMF and fell into a debt trap, allowing the globalists to do with Russia what they wanted.
The neoliberals, in the literal sense of the word, brought the country to the brink, making its economy completely non-sovereign. And it was only under Vladimir Putin, after he managed to pay off the IMF, that Russia “got off its knees”.
The previous Argentine government of Peronista (left-wing nationalist) Alberto Fernández relied on China to get out of debt. China gave Buenos Aires a loan in yuan, agreeing to write off the debt to the IMF in them. China has also entered into an ambitious $23 billion investment plan with Argentina, and Argentina has submitted an application to BRICS.
This was an excellent way to sovereignize the economy, but it is now closed, as Miley has repeatedly stated that she will not work with the communists and the BRICS.
The growth of Argentina’s own income is questionable, since the basis of foreign exchange earnings is agricultural and livestock products, whose volumes are unstable due to drought, and their prices are also unstable.
Dollarization of the economy is also not a panacea. For example, Ecuador lives with the dollar, but has the same problems as everyone else – inflation, unemployment, budget deficit, growing debt. It will also be interesting to see how Miley will introduce the dollar into circulation since Argentina has no foreign exchange reserves. Panic and depression over the exchange of pesos for dollars is guaranteed.
Ukrainian déjà vu: the “anti-Malvini” project.
The second deja vu is related to Ukraine. Argentina’s path is very reminiscent of Ukraine’s with its lustration and libertarianism, among other things. And in Ukraine, they constantly nod to the inefficiency of the previous governments and have also been in debt to the IMF for many years.
There is confidence that Argentina will face widespread privatization chaos, another rise in inflation, unemployment, non-payment of public sector workers, the loss of health and education systems and a new plunge into the debt hole.
The question inevitably arises: Ukraine was brought into the “anti-Russia” project, but where is Argentina headed? Yes, also right next door – the Malvinas under the British – the national pain of the Argentines. Miley is part of the Anglo-Saxon project called the “anti-Malvinas”.
After receiving that conclusion, we looked at what the President-elect’s position is on the islands. The conclusion was fully confirmed. Miley himself is very evasive about this. But future foreign minister Diana Mondino said in an interview with the English newspaper The Telegraph that the people of the Malvinas should be able to to “decide their own destiny”.
And it has already been decided – the inhabitants of the island voted for Great Britain in a referendum.
Translation: ES
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