Economy IMF halts 3 billion bailout tranche from Argentina

[MarketJule]

https://www.zerohedge.com/news/2018...d-low-imf-withholds-3-billion-bailout-tranche

Today's announcement are similar to the events leading to Argentina's 2001 crisis. In December 2001 the IMF suspended a 1.38 billion tranche from a 38 billion loan under president Fernado De La Rua. Leaving Argentina unable to make interest payment to bond holders, as well as the increase in capital flight, Argentina defaulted on 82 billion in bonds one month later...

Couple statement's of the article that stand out to me:

"bailout deal was postponed while the government hammers out the terms of the standby agreement, the largest in IMF history." (re-structuring of deal)

"IMF reportedly warning Argentina not to use the funds from the agreement to support the peso." (possible misuse of funds)


As usual large economic announcements happen before the weekend. Find out more on Monday

 

[PoulCess]

I foresee much pain in the future of Argentina.

 

[earlyretirement]

I foresee much pain in the future of Argentina.

YEP. That's the truth. There isn't any way out of this mess. People that say "they should just dollarize" don't really understand Argentina. In theory, Yes, it makes sense to dollarize but the leftist political parties would never allow it. Things will DEFINITELY get worse. No one knows how bad it will get. But everyone knows it will get worse.

Macri made several mistakes. He should have admitted when he took office just what a horrible mess he inherited instead of trying to sugarcoat things and not scare the locals. Sometimes scary scenarios need to frighten locals into reality. He also didn't public spending quick enough. But still, not sure that ANYONE could have aligned things so that Argentina didn't crash. These boom and bust cycles will always continue because the problems as systemic and Argentina is one really screwed up Country.

 

[bwyonsea]

Former K suporter? Is that some kind of insult?
In fact for Ks I’m a gorila who was prosecuting ulta K judges.

I see my self as an anti M while I think that CFK is the lesser evil, something reallitybshown to be true.

I hace to disagree again with you. I have seen many times complains about the prices here but they have no problem to pay 15/25 usd abroad for admission and this is racism. In fact, this reminds me an apartheid act I was reading at Pretoria University library few days ago about proper wages [only] for white people. This is not different.

 

[earlyretirement]

Former K suporter? Is that some kind of insult?
In fact for Ks I’m a gorila who was prosecuting ulta K judges.

I see my self as an anti M while I think that CFK is the lesser evil, something reallitybshown to be true.

I hace to disagree again with you. I have seen many times complains about the prices here but they have no problem to pay 15/25 usd abroad for admission and this is racism. In fact, this reminds me an apartheid act I was reading at Pretoria University library few days ago about proper wages [only] for white people. This is not different.

Sockhopper comes across as genuine and meant no disrespect. It's clear what message he/she was trying to convey and your response comes across as misguided and even dare I say hostile. I salute you for being bilingual but I think some things are getting misunderstood by you so you may want to brush up on your English. (And that is not meant with any ill will and I mean this in the most genuine and sincere way). I'm not sure you can use the term "racism" with what you're trying to describe.

Your response seems unhinged and misguided. Something is getting lost in translation...... JMHO.

 

[bwyonsea]

Sockhopper comes across as genuine and meant no disrespect. It's clear what message he/she was trying to convey and your response comes across as misguided and even dare I say hostile. I salute you for being bilingual but I think some things are getting misunderstood by you so you may want to brush up on your English. (And that is not meant with any ill will and I mean this in the most genuine and sincere way). I'm not sure you can use the term "racism" with what you're trying to describe.

Your response seems unhinged and misguided. Something is getting lost in translation...... JMHO.

In that case, my apologize.

 

[Marthaty]

Only on this forum would someone compare the racism of the African apartheid to what Argentines will pay to enter a milonga in BA vs. NYC.

It's easy to believe that aliens exist once you spend 5 minutes reading posts on ExpatsBA.

 

[earlyretirement]

Only on this forum would someone compare the racism of the African apartheid to what Argentines will pay to enter a milonga in BA vs. NYC.

It's easy to believe that aliens exist once you spend 5 minutes reading posts on ExpatsBA.

Ha, ha. Yes, that was the point I was trying to make. Again, I really applaud people that are bilingual but I really think many times things are getting lost in translation because I'll read a response and it's totally out there so I have to double check if I'm on the original thread.