MercoPress. South Atlantic News Agency
Argentine economy, “a frying pan with boiling oil” says IMF top official
The head of the IMF Western Hemisphere Department Nicolas Eyzaguirre described the Argentine economy as “a frying pan with boiling oil”, in direct reference to a possible overheating as was recently warned by The Economist. Read full article
Comments
Disclaimer & comment rulesWell, Argentina can always leap out of the frying pan ...... :-)
Jul 08th, 2011 - 04:40 am - Link - Report abuse 0I am quite sure, words from Nicolas Eyzaguirre will motivate Argentina to continue even more their current path.
Jul 08th, 2011 - 10:41 am - Link - Report abuse 0First, because hes from the IMF (Devil!)
Second, because he's chilean (even more devilish and a pirate friend!)
If Nicolas says it's wrong, it can only be right...
With that nut job they have as a President, and a population that wants four more years of her, then the frying pan will more likely catch fire.
Jul 08th, 2011 - 12:26 pm - Link - Report abuse 0Only if the Argentines wake up to the nonsense they have as a democracy, and someone able to deal with reality is put into power by them, will they get themselves out of the cycle of looking inwards rather than outwards, and by change of policy persuade the money that is made in Argentina to stay there and be invested within Argentina.
Can anyone see this happening? I can't at the moment.
“With that nut job they have as a President, and a population that wants four more years of her, then the frying pan will more likely catch fire.”
Jul 08th, 2011 - 01:09 pm - Link - Report abuse 0As if with your 'sane' PM the UK is doing so much better.
“and someone able to deal with reality is put into power by them, will they get themselves out of the cycle of looking inwards rather than outwards”
That's the vaguest, most meaningless piece of economic advice I've read.
It is impossible the discuss the subject of the article rationally when the only offer from Argentines is “Well, look at your government”. It is like trying to debate with a child.
Jul 08th, 2011 - 02:02 pm - Link - Report abuse 0I sincerely hope the Argentine government is more receptive to advice offered in good faith. The last time the economy collapsed there -just 10 short years ago - one of the main contributing factors was the government's refusal to take any advice. They knew better and didn't need anyone else. That is looking inwards.
Funny, I've read just the opposite, that the Argentinian government pre-2002 went down precisely because it applied recommended policies that didn't had much to do with the ills it was experiencing (the result mainly of a currency crisis). As Henry Kissinger said once, the IMF often behaves like “a doctor specializing in measles [who] tries to cure every illness with one remedy.” Just ask Malaysia, who managed to rebound from the late-90s Asian Crisis by not hearing to mainstream advice and applying controls that everyone at the time, from the IMF to the international financial press, considered heretic - a path Argentina would later follow.
Jul 08th, 2011 - 03:11 pm - Link - Report abuse 0By the way, you should perhaps adivse your countrymen not to use EVERY SINGLE news piece about Argentina politics as an opportunity for jingoistic clucking and veiled bragging. Until then, it will be hard not to laugh at their presumptuousness in trying to lecture others how to manage their economy.
Brits put your hands together, please, for a big round of applause for the comment above @6.
Jul 08th, 2011 - 03:58 pm - Link - Report abuse 0I want to vote for Forgetit87 !!! is he running for President?
Jul 08th, 2011 - 04:05 pm - Link - Report abuse 0@6. No Argentina was not without blame and they most certainly did not listen to the advice of the IMF. In fact that was the reason they finally pulled the rug. You should read a wide variety of books on the topic and then you will see that it was a combination of factors that caused the collapse. The IMF acted like an over-indulgent parent for too long, pumping money into an economy that was being badly managed. Argentina acted wrecklessly, spendng the money fecklessly whilst refusing to collect taxes from the rich and implement good economic policies. Like a spoilt child it always believed that The Bank of Papa (in this case the IMF) would bail them out and give them more money. Well, you know what happened.
Jul 08th, 2011 - 06:57 pm - Link - Report abuse 0It begs the question, who was more to blame? The parent that spoilt the child or the spoilt child? Personally, I think it was terrible how Argentina was hung out to dry. But the idea that it could not happen under the current government is misguided. IMO
Argies mmmm
Jul 08th, 2011 - 10:01 pm - Link - Report abuse 0if this site put more articles on other nations
then perhaps the bloggers would comment on them,
but they do , dont they,
its not the bloggers who decides what articles to put on,
so may i suggest you lot , complain to the site boses, and demand less on argentina and south America,
mind you it may defeat the object, [interesting]
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