Hello Project Hope friends, best wishes to everyone this weekend. I hope this week has been very productive for all of you.
Today, yes, as you can guess, I want to share some interesting studies and data that I have been analyzing, and that seem to me even absurd. Especially when we consider the figures, and the level of indebtedness that a country can have, which, if mismanaged, can lead it to ruin. I am well aware that all governments in the world have large debts, which are used for (at least in theory) the growth of the country itself, but there are things that seem to me quite complicated to explain from a logical point of view.
We all know about this organization called International Monetary Fund, which for a very long time has lent money to so many countries to the point that they practically reach figures in debt that it is not possible for these countries to pay, which imposes a very high interest payment, which tends to increase constantly, and as I said, they only pay interest, and the debt continues the same, or in many cases, increasing.
I bring this publication because Argentina has recently paid interest to the International Monetary Fund, and the figure is nothing more and nothing less than 2,700 million dollars, this is a barbarity, it is a great fortune what it pays only in interest, this while the country is sinking in an inflation that only aims to rise.
These interests were paid in Yuan, yes, China is putting its hand there, to give more weight to its currency at a global level, and of course, it is not for free, not only that country will be indebted now with the IMF but also with China... but this is another topic that I will be talking about later.
What I do want to point out is that even when many economists say that Debt is good for countries, for the economy in general because it moves it, what is very clear at least for me- is that debt benefits a few powerful people, but in general the countries end up very damaged, especially the population in general, much more if we consider the levels of corruption that we have in Latin America, unfortunately.
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