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News :: Miscellaneous |
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Don't Cry for the IMF, Argentina |
Current rating: 0 |
by Mark Weisbrot
(No verified email address) |
14 May 2001
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How many times can the most powerful financial institution in the world -- the International Monetary Fund -- make the same mistake? The answer seems to be: as many times as it wants to. As Argentina teeters on the brink of defaulting on its $150 billion foreign debt, and finance minister Domingo Cavallo jets all over the world trying to convince the financial markets that the inevitable is not going to happen, there is an eerie familiarity to the whole sequence of events. |
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