Argentina Lifts Wages, Welfare in Defiance of IMF Austerity Push (news.yahoo.com)

submitted 2 years ago by tintory@lemm.ee to c/worldnews@lemmy.ml

11 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[-] elouboub@kbin.social 24 points 2 years ago* (last edited 2 years ago)

Fuck austerity. It doesn't work and the IMF should fucking stop pushing for it.

(it only works to fuck up countries)

[-] freagle@lemmygrad.ml 3 points 2 years ago

the IMF should fucking stop pushing for it.

it only works to fuck up countries

This assumes the IMF is not structurally designed and intended to fuck up countries.

[-] Zippy@lemmy.world 2 points 2 years ago

Yet Argentina had destroyed their economy for 25 years because they won't act responsible and institute policies of austerity. This just keeps happening to them.

Other countries in the same bed that have ignored austerity policy, Venezuela, Zimbabwe, Sudan...

So ya it is actually a necessity unless your fine with triple digit inflation year after year.

[-] elouboub@kbin.social 2 points 2 years ago

According to a 2020 study, austerity increases the risk of default in situations of severe fiscal stress, but reduces the risk of default in situations of low fiscal stress.

https://en.wikipedia.org/wiki/Austerity#Empirical_considerations

Hammer, see nail.