MercoPress. South Atlantic News Agency
World Bank 480 million USD to finance Argentina’s Universal Child Allowance
Half a million additional kids in Argentina will see their prospects in life improve following the expansion of a popular social protection program with World Bank support. Read full article
Comments
Disclaimer & comment rulesI am not familiar with the terms of a World Bank allocation.
Mar 15th, 2011 - 06:16 pm - Link - Report abuse 0Is it a gift or a loan?
If a loan, when does it have to be repaid?
Is it interest-free or does it come at an overall cost to the receiving country?
What happens to Argentina if it defaults on the loan?
If this is an *additional* $480m loan, how big is the rest of it?
When does repayment of the whole principal become due?
And are the stage repayments being met at present?
It's nice to say that it is to 'drive poverty from Argentina's door', but if all it is is deferred penury, then better to address root causes now than to live on ever-increasing debt in perpetuity or until the baliffs knock on the door.
I know these things, I have seen England.
Point is - why are argentina not funding this themselves instead of relying on an international body to step in and provide the funds to the most needed. Argentina should be ashamed, as they have a duty to make such funds available from their own pockets to protect their most vunerable citizens and children. This should be funded by argentinian tax payers not by an outside international body that argentina holds in very low regard.
Mar 16th, 2011 - 04:04 am - Link - Report abuse 0This World Bank Social Protection Programme was created *explicitly* to support the poor in nation massively hit by the Global Financial Crisis - eg. Greece, Portugal, Ireland, UK, Spain, etc, etc.
Mar 16th, 2011 - 11:49 am - Link - Report abuse 0It was not created to give free money to all and sundry - especially Argentina, where the global financial crisis impact was minimal and the self-created financial crisis should be its own concern.
The world's tax-payers should not be responsible for Argentina's poor to the detriment of nations for which the Programme was designed.
I thought Cristina and her socialist agenda was turning Argentina into a utopia? Yet they need help from the World Bank to pay poor families. Good job Cristina!
Mar 16th, 2011 - 03:10 pm - Link - Report abuse 0Well with the ever increase inflation of 25% (something they like to lie about too) before long no one in argentine will be able to buy bread. Not only that their currecny over time will become worthless, like in Zimbabwe they'll end up using foreign currecny like the USD and pound sterling to pay for goods and services instead. Clearly they can not afford to be giving their money to the poor for buying food as a result of current inflation rates there. currently 1 pound sterling 1.00 GBP = 6.45091 ARS argentine pesos. And 1 argentine pesos is only equal to £0.16 pence in sterling. Says it all really.
Mar 17th, 2011 - 12:33 am - Link - Report abuse 0Remember, it is election year and Cristina wants more money to support her campaign. The poor will only see enough of this money to try and buy their votes.
Mar 17th, 2011 - 09:29 pm - Link - Report abuse 0Commenting for this story is now closed.
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