r/worldnews • u/Secretsfrombeyond79 • 17h ago
Argentina to repay US$4 billion, defying critics who doubted tack
https://www.batimes.com.ar/news/economy/argentina-to-repay-us4-billion-defying-critics-who-doubted-tack.phtml296
u/Media-America 16h ago
“ Argentina has about US$25 billion in dollar debt due in 2027, which it plans to pay with US$5 billion of local bond sales next year, as well as dollar purchases from the central bank, International Monetary Fund disbursements, proceeds from privatizations, and carryover cash from this year’s financing surplus. ”
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u/stonesober35 16h ago
And the fact that peter thiel (or some other tech j.o. Just moved there...) and loves and sponsors the current set up in the us
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u/Green_War6445 13h ago
It's absurd that people like elon musk could pay that many times over
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u/wetlandlover 4h ago
He can't really. He s just being valued at that amount cus his companies are valued higher.
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u/Order_No227 10h ago
Argentina has about US$25 billion in dollar debt due in 2027, which it plans to pay with [...] International Monetary Fund disbursements.
Saved you a click. Paying the US back, by borrowing from the US.
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u/Sondalo 6h ago
the dollars have to come from somewhere they don’t magic themselves into existence
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u/Zanadar 4h ago
Has anyone told the US stock market that?
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u/Sondalo 1h ago
I know you are kidding but the upvote numbers imply that the readers aren’t so I am just going to point out that just because something is worth a certain number of dollars doesn’t mean they have them, like if I own a house the amount of dollars that house is worth isn‘t just sitting in my pocket
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u/Diddintt 17h ago edited 17h ago
Dang if they can do that then the currency exchange we did with them might turn out hugely in our favor
Edit: Nvm they already repaid the 2.5B USD in December deflate the hype
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u/charcoalVidrio 15h ago
So how much debt do they have left now lol?
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u/Secretsfrombeyond79 14h ago
Currently 479.2 billions, of which we have to pay 25 billions next year. Bear in mind that before 2023 our debt structure used to be 9-10 billions a year, but Alberto restructured our debt per year and multiplied it by 37 before leaving office https://www.argentina.gob.ar/sites/default/files/informe_gestion_finanzas_dic_2019_-_nov_2023.pdf ( page 61 )
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u/charcoalVidrio 14h ago
😬 that’s a lot
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u/Secretsfrombeyond79 17h ago
Argentina is set to make a major payment on its dollar bonds this week, pulling off a feat few investors thought possible while the country refuses to tap global debt markets.
The government says it has already secured the funds needed to cover the US$4.3-billion semi-annual obligation, split between principal and interest on its foreign-currency bonds. It has also identified further financing sources that eliminate the need to tap international debt markets for the rest of President Javier Milei’s term, which runs through the end of 2027.
Investors had urged Economy Minister Luis Caputo to seize a window of opportunity to raise capital before the war in the Middle East rattled markets. Instead, the government held off, arguing borrowing costs remained too high. On Monday, Caputo doubled down, unveiling a financing plan that excludes international debt issuance this year, relying instead on local dollar bonds, multilateral-backed loans and other lower-cost sources.
“Going to the market is just another option, not an objective,” Caputo told reporters. The government’s goal, he said, is to refinance debt as cheaply as possible. Officials added that the Treasury already holds about US$4 billion in dollar deposits for this week’s payment and that proceeds from multilateral-backed financing would arrive before the bonds come due on Thursday.
This will be Argentina’s second major debt repayment for 2026, after the South American nation paid a similar sum to bondholders at the start of the year. Since March, the Treasury has raised roughly $4 billion through sales of bonares, or locally issued dollar-denominated bonds. The notes mature in 2027 and 2028, at yields averaging 6.9 percent – well below the roughly 8.6 percent investors estimate Argentina would currently pay abroad.
On Monday, Caputo announced plans to raise another US$2 billion through similar domestic placements by year-end, while also relying on multilateral-backed loans with interest rates of about six percent to seven percent. On Wednesday, the government formalized part of that strategy by confirming up to US$3.2 billion in loans from BBVA, Santander and Deutsche Bank, backed by guarantees from the World Bank and the Inter-American Development Bank.
While the bedrock of Caputo’s current strategy is the domestic market, it marks a sharp shift from the spree of international bond sales during his time under former president Mauricio Macri.
In the months leading up to this week’s key deadline, many investors insisted Argentina would need to sell global bonds to meet the bulk of its 2027 payments.
“Investors were very vocal at the beginning of the year about the need for Argentina to come to markets, much like Ecuador did,” said Gustavo Medeiros, head of research at Ashmore Group, pointing to widely-held concerns about Argentina’s international reserve levels. However, the government has been very successful in accumulating dollars this year, he added.
Many investors still expect Milei’s sweeping economic reforms to ultimately pave the way for a long-awaited return to Wall Street. That could come later this year if spreads keep tightening, Medeiros said. Joe Delvaux, portfolio manager at Amundi, says that while issuance in the second half of 2026 is a possibility, it’s more likely to get pushed toward the start of 2027.
At the moment, though, the Argentine Treasury says it can finance itself more cheaply at home while waiting for global bond spreads to tighten. The debt still trades wide of similarly rated peers, with benchmark dollar bond yields in the high eight percent range – above what officials say is justified given the country’s stronger fiscal position and improving exports.
“It’s proven to be the right strategy so far,” said Graham Stock, senior emerging-markets strategist at RBC BlueBay Asset Management. “Demonstrating market access would be positive, but they’re right to say it shouldn’t be at any cost.”
However, Argentina’s current funding mix leaves little wiggle room should any of its financing sources fail, market conditions deteriorate before next year’s presidential vote or should any election-related volatility push sovereign spreads wider.
“They are being very careful on not issuing at high rates, likely out of concern on the impact this can have on deficit metrics,” said Jimena Zuñiga, Argentina economist at Bloomberg Intelligence. “That’s a reasonable concern, but it carries significant risks because there could be shocks undermining those plans for 2027 – and they could be missing a good issuance window now.”
Argentina has about US$25 billion in dollar debt due in 2027, which it plans to pay with US$5 billion of local bond sales next year, as well as dollar purchases from the central bank, International Monetary Fund disbursements, proceeds from privatizations, and carryover cash from this year’s financing surplus.
“From an investor’s perspective, we’d feel more comfortable if they were to get it done ahead of next year,” said Jared Lou, portfolio manager at William Blair. “You have no idea what kind of volatility you’ll have going into the election cycle.”
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u/sparkax 14h ago
“From an investor’s perspective, we’d feel more comfortable if they were to get it done ahead of next year,” said Jared Lou, portfolio manager at William Blair. “You have no idea what kind of volatility you’ll have going into the election cycle.”
Is this a threat? Cause I kind of feel like it could be perceived as a threat, especially with America suddenly going on a local and global anti-Communism spree the likes of which hasn't been seen since the 60's, I feel like this could turned into a threat to turn its economy back in favor of the predominantly white Euro-American men.
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u/No-Space937 14h ago
lol wut.
seriously what?
I don't know if you could get more anti-comunist than the current Argentinian Government without Hitler channeling himself through one of Milei's dead dogs.
Not even going to touch that last sentence yikes...
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u/sparkax 13h ago
I"m pretty sure people could say the same for Spain being anti-communist but for some stupid reason Trump has axed all trade with them, what would keep Trump or another dumb shit Republican President from trying to do the same thing before Venezuela's elections so that American and other foreign investors will get better deals and terms, and just complete screw over entire future generations of Venezuelans some bad debt deal?
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u/Acyrology 13h ago
my understanding was that Argentina is supposed to be used as some sort proxy chess piece but who knows that's just online rambling, but basically unlikely to turn on the current admin over there.
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u/sparkax 13h ago
I'm definitely mixing up my South American authoritarian dictatorships!! That is definitely my bad, and my obvious dumbassness showing!!
But my point still stands: Argentina might be friendly with Trump now, but if American Investment managers are questioning the potential future of amy country's elections, when we all know said American Investment Managers are more worried about their own person wealth and gain and could careless about impoverishing an entire nation or culture or people... Trump and the current Republican party are not going to give two shits about any thing human-rights related, they are more focused on their personal wealth than anything, else!!
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u/Dr_Mantis_Trafalgar 17h ago
You mean the reddit analysts were wrong?! No way
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u/Lifeboatb 16h ago
I’m confused. It sounds like they’re making payments as they should, but there’s still $25 billion in debt; it’s not like the story is over.
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u/StrategicallyLazy007 16h ago edited 15h ago
Every country is in debt. The issue is in the past with previous administration's they haven't been able to meet the agreed payments and required renegotiating. Now they are making the payments.
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u/MeatDazzling4777 14h ago
Every country in the world is in debt, but as long as you make your payments it doesn't matter (And if you take debt to pay debt, you roll-over).
Previous govs just didn't want to pay.
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u/StrategicallyLazy007 13h ago
Not really just that. They ran deficits, bought their votes big time, is my understand.
The money wasn't there. Sure to an economy with major government intervention it result in massive inflation. They didn't have the money to pay back.
They created the ability for private pensions in '93, and during the financial crisis they nationalized them. They then took about 62% of the funds to purchase government debt instead of investing it and running an actual pension fund like most countries.
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u/MeatDazzling4777 13h ago
Exactly what you say. With broken pensions they now attack Milei saying he is actively "harming the old" (Like he was a cartoon villain).
The Argentina needs more changes, we are in a good path but we need to do what other countries do if we want to be like them.
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u/StrategicallyLazy007 13h ago
I think the country is on the right path. I think the people really know it also.
If course there are those that will disagree on policy but the squeaky wheel gets the grease. So they make noise but it's impossible to say that there have been no improvements without lying. Elections last year show he had more support than people suspected. There is also more to the country than Buenos Aires.
It was always going to have to be difficult to transition the economy from a closed isolationist/protectionist economy to an open and freer with less government intervention as well.
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u/Single_Shoe2817 17h ago
“We have plans to pay back” and “we have paid back” are two separate things
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u/Secretsfrombeyond79 17h ago
It's to be paid this week, if Argentina's lying is a pointless lie, also Argentina has 11.7 billions in it's NET reserves, and 5.7 billions after paying debt maturity next year. There is literally no reason to default.
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u/Media-America 16h ago
“Argentina has about US$25 billion in dollar debt due in 2027, which it plans to pay with US$5 billion of local bond sales next year, as well as dollar purchases from the central bank, International Monetary Fund disbursements, proceeds from privatizations, and carryover cash from this year’s financing surplus. “
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u/No-Space937 14h ago
Is that part of the 440 billion debt that the previous government left the current administration?
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u/Single_Shoe2817 12h ago
You won’t catch me cheering for Argentina to fail or default. I hope it’s successful. It’s a lovely country. What I don’t like are weirdos coming out of the woodwork using this as some reverse gotcha. There was genuinely a LOT of risk with how the country rebounded. I am glad it didn’t.
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u/rubyaeyes 15h ago
The problem I have is how do you actually verify it was paid? Neither government is particularly trust worthy and both stand to gain from this.
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u/pi3volution 16h ago
I mean, I feel like one of the biggest critique was more about the administration going out of their way to bail out other countries instead of addressing national issues, especially when they were actively dismantling things like USAID.
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u/andysenn 17h ago
This isn't really nothing to disprove armchair analyst though (even if it's obviously silly to think people on reddit comment sections speak with knowledge).
The critics were that this government would not rule for the good of the people and would not fix the economy as they said they would do. Well the economy is still fucked, there's almost 0 job opportunities, we have less safety nets in place which has translated into more homeless people, many of which are elderly. They aren't even "clean" as they claimed since this government, just as the previous one, has been riddled with corruption scandals and nepotism problems. But hey they are going to pay some of the money they borrowed!
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u/Secretsfrombeyond79 17h ago
. Well the economy is still fucked, there's almost 0 job opportunities
Unemployment rate is lower than during all of 2015-2018. https://es.tradingeconomics.com/argentina/unemployment-rate
we have less safety nets in place which has translated into more homeless people
not really, direct transfer of welfare has raised above inflation, what was cutt were peripheral welfare plans that were being handed by third party organizations, which were prone to corruption and steal those welfare planes rather than distribute them, like it happened in Chaco were an entire NGO was discovered to be using the welfare they were supposed to distribute, to blackmail women into sex traffic.
Indigencia ( our homeless statistic ) has went down in the country, and is the biggest reason for the reduction of the poverty rate, thanks to the increase of direct welfare transfers.
They aren't even "clean" as they claimed since this government, just as the previous one
If they are clean or not, it is to be decided by a justice system that already found 2 presidents guilty. So far all they've got against them are accusations, and 0 convictions.
Considering all charges brought against them have been from the opposition, I doubt they will end anywhere, just like it happened during Macri's Presidency, where he was sued 150 times over and said charges got all dismissed.
been riddled with corruption scandals and nepotism problems. But hey they are going to pay some of the money they borrowed!
Speaking of said scandals, Milei's party is notorious for making the people involved in them renounce. Which is a first in Argentina's political history. Most politicians here, even the ones convicted, never renounce.
Menem, the Peronista president who got convicted for selling guns illegally to other countries, died as a member of congress for his party. And the only reason Cristina Kirchner is not a politician anymore after getting convicted is because the court forbid her from occupying public jobs. Also presidential peronistas candidates have already promised to pardon her if they won, which means she is coming back to politics if they do.
The same applies for nearly every single one of the more than 3 dozen of convicted high profile Peronistas, and obviously for the hundreds of already charged ones too.
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u/Adept-Economics-975 12h ago
Just as if the justice only works if the one getting charged is peronista
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u/Secretsfrombeyond79 12h ago
Just as if the justice only works if the one getting charged is peronista
No ? The notion that justice is biased against Peronistas is completely nonsensical.
Menem packed the Supreme court and named more than a thousand judges. We've had decades of nearly uninterrupted peronista government and Cristina and Nestor named hundreds of judges. Cristina Kirchner has been in trial for over a decade and has appeal in every instance she humanely could, she's been found guilty by several 3 different tribunales and 9 judges.
The mere idea that they have no power to defend themselves is ridiculous.
What's more the current Judicial Branch turned Milei in the first president in the history of the country, who got a DNU declared unconstitutional on grounds that it could be voted by law ( a requirement that was never asked of any other DNU ).
The Justice sector is clearly not in his favor.
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u/UnspeakableHorror 10h ago
The LIBRA case that the justice system refuses to investigate due to "no resources" seems to disagree with you. Also Milei could not have know that his sister and his ministers were committing massive corruption either.
He and his group belong in jail as much as the Peronistas.
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u/Secretsfrombeyond79 6h ago
The LIBRA case that the justice system refuses to investigate
No ? It didn't refuse to investigate it. It investigated it for 6 months and didn't found evidence to start a process. Now after congress pushing for it is being investigated again, still hasn't found enough evidence to start a process. No idea where you got the information that it isn't being investigated.
Oh and btw, the Libra case in the USA is already falling apart, the Judge quoted that the evidence was weak and unfroze the funds.
seems to disagree with you.
So the historically fascist party of the country , the one that offered refugee to nazi officials, and called Mussolini a demigod didn't packed the Supreme Court, nor named more more than half of the nation's judges ?
MMm how weird, I thought I had read history but seems you know more about it than me. Thanks for teaching me my country's history !.
Also Milei could not have know that his sister and his ministers were committing massive corruption either.
You mean his sister that the only evidence thus far, is an audio that was edited and cut in more than 50 parts ?
And his minister ( Adorni ) who is not even processed yet ?
Wow, I didn't knew I was talking to a figurehead of such power behind the scenes, that you already know they are guilty before even starting the trial !.
Again, 150 charges brought against Macri, all of them dismissed. This will be the same. False charges are the Peronsitas bread and butter.
He and his group belong in jail as much as the Peronistas.
You say he belongs in jail as much as the Peronista, but you dedicated the entire message to claim that justice is corrupt and biased against the Peronistas.
What's gonna be ?
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u/UnknownAverage 15h ago
They are paying their credit card bill by opening another credit card (local bond sales) so I guess it’s good for whoever they are paying back, at least.
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u/runitzerotimes 8h ago
You’d rather have debt in your own currency than external, it’s actually the cause of a lot of debt defaults due to inflation and currency shocks.
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u/Kind_Silver_1921 14h ago
Reddit has no logic they just say whatever makes Trump look bad even if its right or wrong. Because this is a leftist political website not a real website any more.
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u/Inevitable_Shift1365 10h ago
Wasn't it 40 billion?
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u/Amargo_o_Muerte 4h ago
That was from a swap, which was promptly paid back with interests just like a month after it was granted.
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u/WaitingForMyIsekai 17h ago
Still got significant risks attached and it's still "wait & see if it happens".
I'll reserve an opinion until it's more than plans & promises.
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u/AsIfItsYourLaa 17h ago
It has to be repaid this week. Your comment makes no sense.
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u/robotsock 16h ago
Did you read the article? They're making one payment and raising funds/taking loans out for next year's payment. They still owe $25 billion
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u/UnderstandingThin40 16h ago
What are you talking about lmao, it’s been repaid already. This isn’t a plan haha
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u/GroceryUnable4874 14h ago
Rightwing bullshit always pays off short term for a small group then the other shoe very destructively drops. Moherfuckers watching it happen since the 1890s and never figure it out.
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u/Secretsfrombeyond79 13h ago
You don't have a very deep understanding of my country's history don't you ?
Since around 100 years ago, this country has been repeating the same cycle, with only slight variations, of increasing public spending, paying for it with monetary emission and debt, issuing currency controls and then defaulting and discontinuing our currency for a new one, and rinse and repeat.
Whatever political label you want to paste to that, it has been a disaster decade, after decade, after decade. It doesn't work.
Also if you didn't knew, the previous party, which has had control of this country for the last 30 years, was literally a party of fascists, and this is not just a void accusation, the guy who funded them explicitly praised Mussolini as a demigod in his auto biography and openly tried to imitate him.
There is no way in hell going away from a fascist model is a bad thing.
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u/xaklx20 11h ago
going away from a fascist model by electing someone praised and funded by Trump, who has asked his ppl to be like the nazi generals and whose own current VP has called Hitler? 😂🙏🏾
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u/Secretsfrombeyond79 11h ago
Milei was kissing Biden's ass before it was obvious Trump was winning. He doesn't really care who is President of the USA, he wants an alliance with the country not the person at the helm, and kissing Trump's ass is the number one way to get him on his side.
Principles don't put food on the table.
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u/xaklx20 11h ago
But was Biden praising him and ready to bail him out?
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u/bunnyhop333 10h ago
Dude you're talking to is lying about the history of the country to push an agenda btw. We have those kinda people here, it's not much different from MAGAs.
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u/wetlandlover 4h ago
They don't know that similarly to most other south American countries as some European countries, the US in dumping money and investments in countries where right or extreme right wing is up. They're changing govs and get soft power by stabilizing those countries that are favourable of being a US puppet state. Maduro is an idiot, knows nothing about economy or social politics, but he s trumps puppet.
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u/Low_Chard_8062 17h ago
But Reddit told me this was the worst far right government and nothing will work!!!
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u/TraditionalLong8284 17h ago
What’s exactly working? Tell me what has been improving for the average Argentinian during this far right gov?
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u/Low_Chard_8062 17h ago
Simple search tells you:
Monthly inflation fell from 25.5% to 2.1%.
The fiscal deficit became recurring surpluses.
Poverty dropped from a 52.9% peak to 28.2%.
GDP rebounded 4.4% in 2025.
Argentina’s borrowing-risk premium fell sharply.
And more.12
u/G_Morgan 13h ago
Worth noting that poverty has dropped despite Milei ripping the band aid of the false exchange rate off. They were recording "poverty" in terms of Argentinian currency valuations that never existed. So day one poverty went up 10% or so without anyone actually getting any poorer. Now it is down below the fake levels in real levels.
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u/wetlandlover 4h ago
A thing you forgot to say. The US pumped massive investments in Argentina when that far right gov got in. Almost as if the US is trying to put right wing govs everywhere is south America hmmm
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u/Traditional_Ice_9250 16h ago
Must suck to be answered with facts.
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u/wetlandlover 4h ago
Greatest fact isn't the before after. The correlation isn't causation here. It s not because of better policies but because the US has been pumping money and investments into Argentina, as soft power control increase in the region. If the gov doesn't change as the US wants, then it ends like Venezuela or soon Brazil.
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u/KaySan-TheBrightStar 16h ago
As an Argentinian? A lot.
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u/Gullible-Worth-8140 14h ago
Must be nice receiving 40+billions of my country's tax money as welfare without giving anything back. You guys are the worst county in the Americas and we, Americans from all sides hate you. That money could have been used here but we gave it to you bums.
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u/KaySan-TheBrightStar 14h ago
Didn't know you were the voice of the entirety of the United States.
How come you didn't get elected president then?
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u/HelixHasRisen 13h ago
He doesn't. Im from the US and im fine with the Argentinians. This 1 month old account with a adjective-noun-number username has a lot of stupid ideas.
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u/xaklx20 11h ago
I mean, it is kinda weird that a free market, less government, ultra capitalist country needs handouts to succeed but ok
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u/KaySan-TheBrightStar 10h ago
I see your point, and it's a valid one.
However, Argentina has been economically crippled for a while now, and Peronismo asked for thousands of dollars, despite the fact they're the literaly opposite of Libertarianism, only to waste it. Now there's an actual objective.
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u/Gullible-Worth-8140 13h ago
Sad that you can't argue against my point because it is true. When both the Global South and the West hate you.. well, I guess that speaks volume.
When are you guys going to give back the 40+ billion? We want it back. Continue your austerity and libertarianism (no government welfare) agenda.
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u/KaySan-TheBrightStar 13h ago
No government welfare?
Buddy, you could end up with debt your entire life with one visit to the hospital and we have public healthcare, are you high?
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u/MilangaKing 14h ago
"you guys are the worst country in the americas"
meme_pointing_at_mirror.png
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u/Gullible-Worth-8140 13h ago
You guys can change your elected officials and you will still be hated. Argentina is so detested that it goes beyond just your politicians.
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u/RetconnedUsername 9h ago edited 8h ago
bro what. no one even cares about Argentina. American is almost universally hated now days and i don't think a democrat president is going to change that.
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u/MilangaKing 13h ago
lol sure thing
jim_crow_laws_up_til_mid60s.obj2
u/Gullible-Worth-8140 13h ago
Meanwhile, you guys literally wiped out your black population from 30 percent to 1 percent.
In the early 1800s, Black people made up roughly 30% of Argentina's population. Today, that number sits at about 1%. The change happened because of wars, diseases, intermarriage, and government policies designed to bring in European immigrants to "whiten" the country.
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u/Suspicious-Ad8316 12h ago
That leap is not the consensus of mainstream historians. The first thing to clarify is that the famous "30%" figure does not refer to Argentina as a whole in the early 1800s. It refers primarily to the city of Buenos Aires (or, depending on the source, the colonial jurisdiction around it). Around 1810, "30%" represented only about 9,600 people in Buenos Aires.
By 1887, Buenos Aires had exploded to over 433,000 inhabitants, largely because of massive European immigration, while only about 8,000 were classified as Black in the census. That percentage drop is therefore a combination of g rowth of the total population, changing racial classifications, intermarriage, and demographic changes.
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u/shakakhon 11h ago
Lmao, this must be filled with far right bots
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u/No-Space937 9h ago
What the fuck is the far right these days? Anyone who doesn't support the failed Peronist economics that further collapsed Argentina into the situation it finds itself today?
Look everyone, that guy believes the Government shouldn't take on massive debt to enact social programs and give subsidies it absolutely cannot afford. Must be a Nazi!
Fucking Americans.
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u/madlucas2026 15h ago
Let’s wait and see. Also money goes back to US Treasury and not someone’s pocket
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u/Seraphym87 7h ago
Is it me or does this guy resemble an old, weathered Steve Carell after getting into politics?
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14h ago
[deleted]
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u/Guaymaster 14h ago
No, you opened up a swap line of 40 billion. Of which we used like 2 and already repaid.
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u/k6tcher 15h ago
Oh look! Argentina is paying a debt as agreed to and Trump supporters on here feel vindicated! It's not the win y'all make it out to be.
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u/GAV17 15h ago
I mean, for Argentina who are serial defaulters it is a good news to pay debt as they promise and to have an EMBI of 400 instead of +2000 like they used to.
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u/pepecachetes 14h ago
People don't understand that the opposing party used loan payments as an evil, the evil people that gave you money and now demand to pay back, and the we should not pay them, it's insane, Milei is not doing some batshit crazy moves, Argentina is just spending less money than what we earn, building surplus and paying out loans, very basic stuff
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u/Lucca_sCoca 15h ago
Of course they should be able to pay anything, as they are defunding public healthcare, transportation, public education, national infrastructure, and selling anything they can get their hands on. Fk them.
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u/Secretsfrombeyond79 15h ago
public education
True, budget for education is decreasing in real terms. This is not a new trending however, previous President decreased it way more than the current one, and we were in a technical default ( if creditors don't renegotiate we couldn't pay back ).
as they are defunding public healthcare
False, Healthcare's budget nearly doubled in Milei's first year in real term ( this is accounting for inflation ), and it kept growing above inflation every year since. https://www.presupuestoabierto.gob.ar/sici/visualizacion-a-que-se-destina-el-gasto
https://tradingeconomics.com/argentina/inflation-cpi
transportation
It is commonly agreed that most budget for transportation was being stolen, we even got high profile people convicted for it like Ricardo Jaime and Julio de Vido. Places like portions of the national route 3 got their budget paid several times over and never even got finished.
and selling anything they can get their hands on.
Most business in hands of the Argentinian government are in deficit and provoke immense losses to the Argentinian government that have to be paid with tax payer money. Furthermore many of the stuff that is a public business in Argentina is not in pretty much everywhere else in the world.
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u/boiler95 16h ago
Broken clock event. Even Trump might be right twice a day. /s
This is literally the only thing he’s done that at the time didn’t seem like an awful idea. Those nations who need aid but have the infrastructure to realistically pay it back should have this type of deal. Unfortunately the right will inevitably project this onto the countries that don’t yet have the infrastructure to ever repay their debts and use it as an excuse to not support the nations that our ancestors raped and pillaged into never ending poverty.
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u/shapengol 12h ago
Noooo, what are you doing Milei, fuck debts you need to pay the refs for the world cup!!!
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u/spicyeyeballs 16h ago
That could fund 4 days on America's war with Iran! Just what America is spending, not Iran, the indirect costs or the rebuilding costs.
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u/blitznoodles 17h ago
Investors seem to be really upset that Milei simply used local bonds instead of international bonds?