Sublime
An inspiration engine for ideas
Taylor was trying to make the case that the Argentine crisis was handled better than is commonly understood. This is the theory: Although IMF rescues failed to keep Argentina from defaulting and devaluing, they still had important benefits, and this applies to the second rescue in August 2001 as well as the blindaje in December 2000. Markets worldw
... See morePaul Blustein • And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
Calomiris delivered a grim prognosis: At some point, the Argentine government would be unable to service the debt it had incurred because of the viciousness of the cycle the country was falling into, and delaying the recognition of that reality would only lead to catastrophe. The most sensible approach was thus for the government to administer a ha
... See morePaul Blustein • And the Money Kept Rolling in (And Out): Wall Street, the Imf, And the Bankrupting of Argentina: Wall Street, the IMF and the Bankrupting of Argentina
