It's funny how quickly perceptions can change on the global stage. Just a few years ago, Argentina was being hailed as a remarkable tale of success snatched from the jaws of defeat. After suffering an economic crisis in 1999-2002 that saw widespread unemployment and riots, the fall of the government, and a national default on foreign debt, analysts in recent years have been pontificating on the re-stabilization of the Argentinian economy. But it appears they spoke too soon. As a result, on February 1st, Argentina became the first nation in history to be censured by the IMF.
The IMF has given the country until September to bring its statistics up to international standards or face expulsion from the world body. Ironically, this will be welcome news to Argentinians, who have long understood that it was the international financial elite at the IMF and in the so-called Washington consensus who put the country on this path of economic collapse in the first place. The roots of the current crisis go back at least as far as the US-backed military coup in the 1970s which “disappeared” an entire generation of political activists and instituted a bankster-friendly regime that paved the way for an era of neoliberal reforms and cooperation with the IMF.
In this episode James Corbett examines the rock-and-hard-place nature of Argentina's current collapse, the neoliberal policies imposed on the country in decades past, and the irrational, politically-motivated lies spun by the government in reaction to those policies.
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