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sandensea

(23,454 posts)
2. Macri figures that if it worked for Bolsonaro, it'll work for him.
Sat Oct 20, 2018, 07:26 PM
Oct 2018

But as anyone could tell him, his enemy isn't Cristina Kirchner (who might not run anyway) or any Kirchnerist, Peronist, leftist, or what have you.

It's his own policies - or rather, the IMF's.

The IMF playbook, to recap, is basically:

1) Encourage countries to paint themselves into a critical balance of payments/debt problem, mostly via financial deregulation; this was Argentina under Macri's first two years (lots of applause from the IMF and much of the business press).

2) Once a panic sets in (April/May), lend them just enough money to make sure foreign speculators and the local elite can trade in their pesos for dollars and get out; this was in June.

3) Having given them that window (usually a year or less), they then "raise concerns" and get really coy about further loans - which by this point become essential to avert an all-out collapse; this is the situation now.

4) At that point, they crack the door open ever so slightly to renewed lending if the country in question will dismantle much of its government ("starve the beast," as Republicans call it) and, most importantly, start fire-sale privatizations; these become "conditions" for any further lending.

And Macri? He apparently has his getaway already waiting for him in Spain, where his mamá was given expedited citizenship by Rajoy during his last days as prime minister.

Not sure Prime Minister Sánchez will be as happy to see him though.

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