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viernes, 15 de marzo de 2013

Argentina’s economic implosion amounts to one of the largest train wrecks in history

Argentina's race to the bottom



  • Argentina is the poster child for economic dysfunction in the Americas and stands as a cautionary tale of the perils of populist economics. 
  • The International Monetary Fund’s recent unprecedented censure of the Argentine government for cooking inflation figures is only the latest installment in a long fall from grace for what was once one of the world’s most productive economies. 
  • Moreover, under the presidencies of Néstor and Cristina Fernández de Kirchner, Argentina has alienated traditional allies such as the United States while reorienting its foreign relations toward radical outliers like Venezuela and Iran. 
  • US policymakers must continue to hold Argentina accountable for its failures to abide by its obligations to international financial institutions and work to thwart Argentina’s troubling alliances with rogue governments.

Key points in this Outlook:

  • The left-wing populist agendas of former Argentine president Néstor Kirchner and his wife, current President Cristina Fernández de Kirchner, have exacerbated Argentina’s economic dysfunction, which began with the country’s sovereign default in 2001.
  • Argentina’s Kirchner dynasty has alienated traditional allies such as the United States and led to a reorientation of Argentina’s foreign policy toward radical outliers like Venezuela and Iran.
  • The United States should continue to hold Argentina accountable by raising the costs of its failures to abide by its international obligations.

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Read more: www.aei.org

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