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paraguay in trouble

Another Latin American country in trouble: State of emergency declared in Paraguay.

Given that Uruguay is also close to the brink of financial dificulties... Brazil might default by next year... and Argentina is still in the tatters... it doesn't look good at all for South America as a whole... might it finally be time for the macro-economic-oriented economists at the IMF and the World Bank (as well as the major banks, who do nothing but squeeze money out of these countries) ... maybe they will realize that caring only about high-level economic indicators is useless: the cost of credit doesn't tell you how many children starve, just as the unemployment index doesn't tell you how many people have given up trying to look for work. Outrageous...

Categories: personal
Posted by diego on July 15 2002 at 10:43 PM

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