MercoPress. South Atlantic News Agency
Argentina and Brazil blast IMF for its excess of pessimism regarding emerging economies
Argentina and Brazil strongly questioned the IMF generalized “excess of pessimism” because of a slowing down in emerging economies but also underlined that these countries have the sufficient ‘training’ and recent experience to confront the new challenges. Read full article
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Disclaimer & comment rules”The Argentine minister said he was convinced the emerging economies will continue to grow at “standing, sustained and strong speed, and will persist as the main dynamo of the world economy”.
Oct 12th, 2013 - 10:30 pm - Link - Report abuse 0Is he including Argentina as a component of the main dynamo?
Argentina’s Sr. Hernan Me Quiero Ir Lorenzino said: “better prepared than in the past and their resilience has improved ... because of”
Oct 12th, 2013 - 10:50 pm - Link - Report abuse 01. “the state of public finances” = Argentina de facto bankrupt
2. “the administration and flexibility with the different exchange rate systems” = in Argentina no import, no foreign currency, no ...
3. “more and better shock absorbers” = Argentina : appeal, appeal, appeal, ... appeal, ...
4. “level of international reserves” = Argentina's dropping like a brick
It is shocking that the Argentine population lets them get away with these lies - kick'm out, do it now!
Lorenzino you better shut up, other LATAM countries can say that but not you bunch of worthless and incompetent thieves!!! You are scrapping the barrel to find enough US$ to pay the ships of oil. Rumors say a couple of ships didn’t even unload and left port as there was no cash in hand to pay them with.
Oct 12th, 2013 - 10:59 pm - Link - Report abuse 0What an earth have you done with all the dollars?? Where is all the money the country made in the past decade to face the lowering of commodity prices and eventually the increase of global interest rates???
On a more positive note I am pleased to note that Hernan's wardrobe has improved dramatically in recent times. To quote 'Tres Hombres' Hernan is now a Sharp Dressed Man.
Oct 13th, 2013 - 03:58 am - Link - Report abuse 0This time it's different!
Oct 13th, 2013 - 06:53 am - Link - Report abuse 0Yeah, I've never head that before.
He's wrong, it's not different.
Oct 13th, 2013 - 07:11 am - Link - Report abuse 0It's the same as ever, IMF runs the agenda of the “developed” nations and the “developing” nations pay the cost.
We've seen it before, again and again.
@6 Lorenzino hasn't a clue. This is no more than a soundbite hanging on to Brazil's coat-tails. Brazil may stand a chance. Argieland has NONE!
Oct 13th, 2013 - 09:51 am - Link - Report abuse 0It needs careful reading to be sure when Arg. and Br. speakers are talking about Arg. or Br. or the 'developing world'.
Oct 13th, 2013 - 01:34 pm - Link - Report abuse 0I agree, Conq., with your key point - it's important to separate widely the situation of Brasil from the situation of Argentina.
These are comments, Stevie/Ang., made BY Arg. & Br., not by the IMF.
Multilateral organ at the service of the West!! Worthless, has a vision directed their interests. Not fulfill agreements. Brazil put 24 billion dollars in this shit. And we continue with the same voting power when we had no money. Vão às favas!
Oct 13th, 2013 - 04:48 pm - Link - Report abuse 0Argentina is beyond saving in this lifetime; Brazil can't save itself financially because no-one knows what is happening to the economy in reality.
Oct 13th, 2013 - 05:52 pm - Link - Report abuse 0Mantega lies, as usual.
The US is being accused of causing trouble by the Fed removing give-aways which MAY result in money leaving Brazil. You think?
And these two edifying countries are the ones (THEY say) are going to lead the world into the bright new future, so please Mr. IMF don’t be too hard on us.
Really, well who would have thought that?
10) There is one thing you should not forget, and that is that Argentina has relatively very few debt over its GDP nowadays, and very low private debt...There is of course a great crisis and a another technical default coming soon, I know it’s inevitable... However I believe after a great devaluation post 2015 and a new government that doesn’t fall into the same mistakes and has a more or less balanced project and long-term vision Argentina will rapidly grow again.
Oct 13th, 2013 - 11:20 pm - Link - Report abuse 011 CabezaDura
Oct 14th, 2013 - 11:29 am - Link - Report abuse 0IF the circumstances play out as you say, then rapid growth is the obvious result because the economy cannot get any worse than now, can it?
However, I am mindful of the old Rodina saying: ”here is the new Boss (government), same as the old Boss (government).”
A homeless person living on the street also has little debt! However they usually have few assets as well.
Oct 14th, 2013 - 12:19 pm - Link - Report abuse 0Argentina's single-mindedness to pay down debt has lead to the destruction of wealth creation mechanisms within the economy and the theft of future growth through a consumer boom due to sky high inflation.
Paying off a house to the detriment of your family and job whilst undermining the foundations of your debt-free house until it requires major investment that exceeds your ability to pay is a phyrric victory.
12) 13) Yes but Argentina is not going to fall into debt quite easily, as it will be more expensive and at least the KK have managed to deal with no extra debt from abroad... Argentina still does have the assets and its called the Pampa humeda and the know-how to jump starts the economy again. What it does need is capital and investment that can only come with a good sensible government with clear and sustainable rules for people willing to invest and do business in Argentina
Oct 14th, 2013 - 05:39 pm - Link - Report abuse 0Another great advantage is the low private debt the society has. The real huge debt however is intra Public sector nowadays
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