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

submitted 1 year ago by tintory@lemm.ee to c/worldnews@lemmy.ml

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[-] elouboub@kbin.social 24 points 1 year ago* (last edited 1 year 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 1 year 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 1 year 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 1 year 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.