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peppertree

(22,850 posts)
8. Possibly - but nothing NEARLY as stringy as the loan Trump forced the IMF to give Argentina in 2018
Fri Feb 17, 2023, 09:54 PM
Feb 2023

That April, Macri's 2016-18 debt bubble burst.

Collapse would've surely followed (as it did in Lebanon and Sri Lanka) - but miraculously, the IMF granted Macri's shameless request for a record, $57 billion bailout.

The IMF board, of course, objected - but they were summarily overruled.

The supervisor of the bailout, Italy's Roberto Cardarelli, was unequivocal: It was granted on Trump's orders, and for the sole purpose of getting his pal Macri re-elected in 2019.

When Macri was soundly defeated in the first round in August, the bailout was immediately cut off. That was "the string."

But by then $45 billion had been lent - leaving Argentina a massive, new debt the current president (the beleaguered Alberto Fernández) referred to as "the largest campaign contribution in world history."

So it was (like so many things Trump) both illegal and pointless. Argentina's still struggling to pay it off - hence their need for Chinese aid.

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China has been sinking huge amounts of money into Africa and South America for a reason. Irish_Dem Feb 2023 #1
There's the 'soft power' angle, yes - but also the fact that US & European firms tend to ignore them peppertree Feb 2023 #2
Russia and China are carving up the world behind the scenes. Irish_Dem Feb 2023 #3
Whatever influence Russia had, they frittered away peppertree Feb 2023 #4
Time will tell how this all plays out. Irish_Dem Feb 2023 #5
Absolutely. peppertree Feb 2023 #6
As long as Argentina understands there are strings attached. Irish_Dem Feb 2023 #7
Possibly - but nothing NEARLY as stringy as the loan Trump forced the IMF to give Argentina in 2018 peppertree Feb 2023 #8
It's all the same point I am making Irish_Dem Feb 2023 #9
You're saying Trump deliberately pushed Argentina into a corner, so they'd have to rely on China? peppertree Feb 2023 #10
I am going to shed a bit more light, my friend. Irish_Dem Feb 2023 #11
Thanks for the compliment! peppertree Feb 2023 #12
Trust me. There is something China wants from Argentina. Irish_Dem Feb 2023 #13
You're right: they're cornering (or at least, getting a leg up) on their lithium supply peppertree Feb 2023 #14
Either short sighted or by design. Irish_Dem Feb 2023 #15
Yeah - money talks. And often to the exclusion of other considerations. peppertree Feb 2023 #16
Delighted to interact with you! Irish_Dem Feb 2023 #17
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