pull down to refresh
5 sats \ 0 replies \ @Solomonsatoshi 15h \ parent \ on: My Direct Account on the Situation in Argentina under Milei's Government Politics_And_Law
I disagree on the IMF being a cute harmless baby, even in comparison to what previous governments of Argentina did to Argentina- those previous governments took the mechanism of the IMF and placed the nation of Argentina under massive and extreme debt obligation to the IMF- that is a massive compromising of the sovereignty of Argentina by those governments and the IMF.
The IMF enables the corrupt and inept misgovernment of nations like Argentina and that enables the IMF to impose all sorts of rentseeking and injurious policies upon nations so indebted and obligated even long after those governments have changed.
Without the IMF those previous governments would not have been as able to entrap the nation in such chronic debt.
The IMF has imposed severe restrictions upon El Salvadors government program to implement Bitcoin as a MoE and Sovereign reserve. If as you say, Milei hopes to enable Bitcoin as a MoE in Argentina, be aware that the IMF will use its considerable leverage to obstruct such a policy...because allowing Bitcoin as a MoE would seriously undermine the IMFs entire model of global fiat debt power and leverage.
The IMF may be purring like a kitten now as Milei looks like improving the dire state of the Argentine economy and the probability of Argentinas debt being repaid, but they will not be accommodating of any plan to allow Bitcoin as a MoE. They will use all of their significant debt leverage over Argentina to prevent it.