Argentina Uses Federal Reserves to Pay External Debt
By lucas@endneoliberalism On 3 Apr, 2013 At 10:32 AM | Categorized As General News, Odious Debts | With 0 Comments

The illegal debt imposed by Neoliberal governments and ratified by the Kirchner administration continues to haunt Argentina. In the midst of a new cyclical economic decline, Argentina has to send US$2 billion abroad to the financial institutions that played with and profited from the South American nation for over 40 years. InfoBae reports

Meanwhile, the Argentinean people are deprived from exchanging their devalued pesos for US dollars. Such is the desperation for hard currency that this weekend Argentineans took a boat to Uruguay and emptied cashiers in the neighboring town of Colonia.

Kirchner’s style ‘corralito’ is saving up for the international banks.

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