Letter from Buenos Aires

• Author(s): Pierre Wassenaar • Published: March 2002
• Pages in paper: 6


“IMF criminals!” cry the antiglobalists in the wake of Argentina’s descent into chaos. But the real crime of Argentina’s last ten years was its own supineness in tying its fortunes for so long to the economy of an indifferent superpower, and allowing itself to become the plaything of international bondholders. There are two bogeymen here: a hubristic and arrogant political class which never felt the need to explain to the population the Faustian nature of the dollar peg; and the international credit rating agencies which called Argentina a basket case and sent the cost of its debt soaring, when both its fiscal deficit and its debt ratio were within the limits for entry into the eurozone.

Register for personal access to all papers for just £47.99

To download papers you need a subscription to World Economics Journal.
Get access to the full 20 year archive of thousands of papers and abstracts.

Order online now for 1 years immediate access for 1 user via username/password.

You do not need a PayPal account to pay by card.

Institutional Subscriptions, Contact Us
Existing Subscriber Log-in