(Bloomberg) -- Argentina’s Economy Ministry announced measures to improve government workers’ salaries and funnel money toward retirees and poorer families, defying an International Monetary Fund appeal earlier this month for the country to spend less.Most Read from BloombergAuto Union Boss Wants 46% Raise, 32-Hour Work Week in ‘War’ Against Detroit CarmakersGoldman Is Selling a Wealth-Advisory Unit to $240 Billion Money ManagerCitadel Vets 69,000 Intern Applicants to Find Next Math GeniusesChin
Fuck austerity. It doesn’t work and the IMF should fucking stop pushing for it.
(it only works to fuck up countries)
Yet Argentina had destroyed their economy for 25 years because they won’t act responsible and institute policies of austerity. This just keeps happening to them.
Other countries in the same bed that have ignored austerity policy, Venezuela, Zimbabwe, Sudan…
So ya it is actually a necessity unless your fine with triple digit inflation year after year.
https://en.wikipedia.org/wiki/Austerity#Empirical_considerations
Hammer, see nail.
So the plan is to continue printing money to fund the deficit? Great way to get inflation under control. It’s working wonders in Argentina.