The USA has a stranglehold on Argentina using the IMF's debt trap. Argentina has been trapped since 1958, signing multi-agreements for loans from the IMF and sinking deeper into quicksand that it cannot extricate itself, so much so that Javier Milei even had to succumb to the 'dollarizing' of Argentina's economy to please the USA.
The USA now cannot allow Argentina to default and collapse under the load of debt to the IMF. Too much are at stake if Argentina collapses, with hedge funds and retirement funds all involved. That is why the USA Government has to bail Argentina out recently, with a US$20 billion loan by the Government and another US$20 billion clobbered together from other sources and guaranteed by the USA Government.
It was a bailout that Scott Bessent tried very hard to deflect when critics are arguing that the US$40 billion could be more handily used to fight homelessness, cost of living and improve lives in the USA itself.
Argentina had been in debt to the IMF since 1958 or almost seventy years, just unable to repay and needing further IMF loans over the decades. Argentina is a perfect example and a case study by many of how debt traps are set by the West to control countries that unwittingly fall into the trap. It is another version of 'Opium War' designed to invoke dependency just like what the Brits tried to do to make China weak and dependent.
With China and Russia knocking at the door of Argentina with more carrots dangling at the front yard, will Argentina take the bait that will decimate the agenda of the IMF and the USA.
Anonymous
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