Argentina

Boom and then bust?

30 April 2019 - by Michael Roberts

Last March, I posted that the global economy seemed to be in a fantasy world where stock markets hit new highs but output of goods and services, investment and trade was stagnating in the major economies. This week, the US stock recorded yet again new highs. As the Financial Times described (...)
We denounce the ideological persecution and the attempt to intimidate us

16 November 2018 - by ATTAC/CADTM Argentina

From ATTAC Argentina, we tell them “you will not be able to INTIMIDATE us”. ATTAC is an organization known worldwide for its activism against tax havens and money laundering. It is absurd and disgusting that a government filled with crooks, who have accounts abroad, tries to stain an organization (...)
Argentina: More lending guarantees creeping austerity

16 November 2018 - by Gino Brunswijck

Against a backdrop of public protests, on 25 October the Argentinian government approved the 2019 budget including US$10 billion worth of cuts in essential areas such as education and public works. The next day, the Executive Board of the International Monetary Fund (IMF) completed the first (...)
We denounce the government’s cyber-espionage of Argentinian social movements. Spying is illegal!

12 November 2018 - by ATTAC/CADTM Argentina

From ATTAC Argentina, we denounce the “cyber-espionage” put in place by the Argentinian government against the social organizations which are members of the Confluence Fuera G20 / IMF (G20 and IMF – Out), as reported in several newspapers. We repudiate this action by the government, the Ministry (...)
Forced marriage between Argentina and the IMF turns into a fiasco

9 November 2018 - by Jérôme Duval

While the discontent of the Argentine people grows day by day, President Mauricio Macri flees to the United States. In New York, he continues negotiations with the IMF to revise the already outdated agreement signed in June, intervenes in the UN Assembly, and is given an award for his (...)
Argentina in turmoil

24 October 2018 - by Jérôme Duval

After Argentine President Mauricio Macri announced, on 3rd September, a brutal austerity plan under IMF supervision, the people hit the streets to express their anger at rising prices and budget cuts. Seventeen years after the 2001 crisis in Argentina, the Macri government, which came to (...)
The political cost of IMF programmes

17 August 2018 - by Bretton Woods Project

Summary - Political ramifications of IMF programme in Jordan trigger protests - Jordanian prime minister resigns - Developments raise broader questions around IMF conditionality In June, King Abdullah II of Jordan accepted the resignation of Prime Minister Hani al-Mulki, amid the biggest (...)
The mixed fortunes of Argentina’s 2005 and 2010 debt restructurings

28 June 2018 - by Eric Toussaint, Maud Bailly

In June 2018, Argentina signed a loan agreement with the IMF. We therefore republish a useful excerpt of an interview given by Eric Toussaint to Maud Bailly in 2014, which focuses on the process of the Argentine debt restructuring in the wake of the country’s suspension of debt payments between (...)
The IMF is back in Argentina: “an economic and social crisis, even more serious than the present one, looms large on the horizon”

27 June 2018 - by Eric Toussaint, Sergio Ferrari

1. The vicious circle of illegitimate debt grapples the Argentine people once again 2. IMF’s $ 50 billion loan surpasses Greece’s previous record Sergio Ferrari from Berne, Switzerland interviewed Eric Toussaint, international debt specialist After more than a decade of Argentina’s official (...)
Argentina: Macri’s Neoliberal Fantasies

13 June 2018 - by Claudio Katz

In the middle of his term, Argentinian president Mauricio Macri cannot hide the monumental abyss between his promises and reality. The promise was of an influx of dollars to lower inflation, with high growth, job creation, an entrepreneurial boom and eradication of social assistance. A drastic (...)
Global debt crisis ahead?

11 May 2018 - by Michael Roberts

Argentina is seeking International Monetary Fund aid after a series of drastic interest rate rises failed to stop the slide in the peso, pushing the country towards a financial crisis. Mauricio Macri, Argentina’s right-wing, pro-big business president, announced the approach to the IMF in a (...)
Final statement of the Peoples’ Summit “WTO Out, Building Sovereignty”

29 December 2017 - by Confluencia fuera OMC

The Peoples’ Summit “WTO Out, Building Sovereignty” gathered on December 11-13, 2017 in Buenos Aires, Argentina, against the XI Ministerial Conference of the World Trade Organisation (WTO) in this city. The networks and trade unions, human rights, territorial, students, women, political, (...)
Argentina: The Elections And The Left

1 August 2017 - by Claudio Katz, Eduardo Lucita, Franck Gaudichaud

The Argentine legislative elections in August and October 2017 will be of huge importance for the entire Latin American region, with the government of Mauricio Macri establishing itself as a bastion of the neoliberal right after 12 years of Kirchnerist government (2003-2015). The coming (...)
An Analysis of Argentina’s 2001 Default Resolution

6 April 2017 - by Martin Guzman

This report cites as an important positive step the Belgian Law on vulture funds passed on 12 July 2015. But it is currently being challenged by a Cayman Islands-based hedge fund, NML Capital Ltd. (a subsidiary of Elliott Management Corporation funded by the billionaire Paul Singer), before the (...)
Vulture Funds in the Context of a Globalized Financial System

13 February 2017 - by Daniel Munevar

The recent legal victory of a small group of vulture funds over Argentina in the battle over its sovereign debt has renewed the discussion regarding the role of these funds. Indeed, the decision of a US Court of forcing Argentina to pay its creditors based on an interpretation of an obscure (...)
CALL TO ACTION!

18 January 2017 - by Argentina Mejor Sin TLC

Let’s put a stop to the WTO’s agenda and to Free Trade Agreements and investment provisions! Let’s build commercial relations that serve peoples’ interests and protect the environment! In 2017, let’s bring the ‘battle in Seattle’ to Buenos Aires! In recent years, commercial liberalization on a (...)
‘Hats Off!’ to the 31^st National Assembly of Women

1 November 2016 - by Maria Elena Saludas

The National Assembly of Women or ‘Encuentro Nacional de Mujere’s (ENM) is an annual event which has taken place in Argentina since 1986. It provides a space for women that is deeply democratic, pluralistic, self-financed, federal and fair. Women from all over Argentina and Latin America come (...)
Argentina: The Debt Tango

17 August 2016 - by Eric Toussaint

We put out here a study about Argentina from Éric Toussaint, which is unpublished online yet. It covers the 1976-2003 period. It has been published in the book Your Money or Your Life. The people of Argentina rose up against the neo-liberal policies conducted by the centre left government of (...)
Argentina: Further Action against Illegitimate Debt

17 August 2016 - by Eric Toussaint

Interview with Eric Toussaint, spokesperson and co-founder of the international network of the Committee for the Abolition of Illegitimate Debt (CADTM). Interview by Benjamin Lemoine This interview presents the genealogy of the anti-debt struggle, the campaigns for debt cancellation, the (...)
Monsanto in retreat: movement from the grassroots

12 August 2016 - by Silvia Ribeiro

Since August 1st, the news is spreading that Monsanto had to abandon the construction of one of the biggest factories in the world for producing transgenic seed that was to be installed in Córdoba, Argentina, in the municipality of Malvinas Argentinas. From there they had planned to distribute (...)
After the ‘battle of the century’: what next for debt crisis management?

13 May 2016 - by Bodo Ellmers

In late April, the ‘battle of the century’ between the government of Argentina and a group of vulture funds reached an inglorious end. The government of Argentina finally surrendered and paid the vulture funds in full, at a price tag of more than US $10 billion. The consequences are severe: (...)
ATTAC Argentina rejects the free trade agenda carried along by Barack Obama in his visit to Argentina

23 March 2016 - by ATTAC/CADTM Argentina

Barack Obama will arrive to Argentina on the 23 of March. The aim of his visit is to economically and politically back up the administration of Mauricio Macri. The agenda of Obama in our country includes issues such as security, the war against terrorism, drug trafficking and the promotion of (...)
Reject the Imminent Agreement with the “Vulture Funds”

8 March 2016 - by ATTAC/CADTM Argentina

The worrisome Argentine “Public Debt” has its roots in an illegal and illegitimate debt process. It started with the Dictatorship and involves all governments elected from 1983 up to now. The bonds, that the “vulture funds” are claiming payment of, originate in fraud. This is still the case even (...)
Stop feeding the vulture funds: Argentina’s agreement to hand over $4.65bn proves the world needs a new, fairer insolvency regime

2 March 2016 - by Bodo Ellmers

Argentina’s ‘agreement’ to award vulture funds US$4.6bn (€4.26bn) demonstrates why nations need a new global system to resolve debt issues and avoid being held to ransom.
No Need to Negotiate with Vulture Funds

22 February 2016 - by Renaud Vivien

Since his victory in the November elections, the new President of Argentina, Mauricio Macri, has given priority to resolving the dispute between his country and “vulture funds” – investment funds that buy up heavily marked-down sovereign debt from hard-up States then instigate legal actions with (...)