Argentina needs effective not unthinking support

ARTICLE - Ever since the emerging market financial crises of the 1990s, many in the international financial community have expressed deep scepticism about large financial assistance packages for countries in distress.

Nevertheless, a year ago the international community, led by the International Monetary Fund, committed $40bn to support the Argentine government's efforts to restore economic growth and avoid default. By last June, those policy efforts had clearly failed.

By Michael Mussa

Published

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