I grumble often enough about The Guardian's international coverage that it's only fair to highlight when they get it right.
This is a pared down but generally clear account of Argentina's 120% inflation crisis, & why the country is at high risk for a blow to democracy thanks to many internal choices made by other politicians.
I only disagree with the idea that IMF austerity conditions have any sound backing for improved nat'l health. Research usually finds the opposite.
https://www.theguardian.com/commentisfree/2023/oct/01/the-guardian-view-on-argentinas-presidential-election-the-danger-to-democracy-is-real
Yes in my opinion
The IMF austerity programs have done nothing but immiserate people. And do nothing to solve the underlying problems.
When I wrote the script for my Global Finance episode on the IMF, the heartbreaking part wasn't discussing program failures; it was seeing how well *known* those failures are to members of the IMF itself.
Austerity promises are what bring investors forward: the guarantee that countries will pour everything into debt servicing instead. And it demonstrably entrenches and deepens the rich-poor divide wherever it's applied.
We know better.
We just refuse to free up money to *do* better.