More Loans Without Reform Will Only Prolong Argentina's EconomicWoes
Néstor Kirchner, Argentina's new president, wants new longer-term financing to pay off old debts. This South American nation of 36 million is only now beginning to recover from a five-year economic meltdown during which its gross domestic product (GDP) shrank by 20 percent. Even so, Argentina has failed to reduce the size of its bloated public sector, restructure a complicated and repressive tax system, curb state intervention in the economy, lower trade barriers, or strengthen the rule of law.
Source: heritage.org