Argentina Pays Off Entire IMF Debt While U.S. Indebtedness Grows

by tables turning

Wed, Jan 4, 2006 12:40AM

January 3 - Argentina reclaims its freedom to follow policies to rebuild its economy after paying off the entire 9.5 Billion dollar debt it had owed the Washington, D.C. based International Monetary Fund.

Bloomberg News: Economy Minister Felisa Miceli, echoing statements President Nestor Kirchner made three weeks ago when he announced the move, said the decision ``has high symbolic meaning because the country is reclaiming its autonomy.''
http://www.bloomberg.com/apps/news?pid=10000086&refer=latin_america&sid=aHzqoAPRdVKw

IMF control over the Argentian economy is widely blamed for having helped plunge thousands into severe poverty during the 2001 - 2002 economic crisis.

The United States is currently spending almost 2 billion dollars a week in Iraq, and its national debt has been increasing more than 2 billion dollars each day.

The current U.S. debt is over 8,200 Billion dollars, or over 8 Trillion dollars.

picture source: http://argentina.indymedia.org/features/resistencia/

For more information: http://www.brillig.com/debt_clock/

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§one little detail

by Dr B

Wed, Jan 4, 2006 12:50PM

Argentina paid roughly 30 cents on the dollar .. in other words, she stiffed her creditors, many of which were European pensioneers and working people's funds.

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