Mario Arriagada Cuadriello in the Ideas Letter from Open Society Foundations:
Evita, the Falklands, the Hand of God: if you are an English speaker you have already guessed the subject. For the Spanish-speaking world, the key terms would be different: Peronismo, Malvinas, and, again, Maradona. But irrespective of language there is a more robust set of signifiers that (all too often) effectively describes Argentina’s zeitgeist: Inflation, debt, and the International Monetary Fund (IMF). And it’s the last that will be the central protagonist of this story.
Rotten governance in Argentina is undoubtedly to blame for the country’s knocking on the IMF’s door to the point of becoming it largest debtor. But what about the IMF? How are they reacting to newly-inaugurated President Javier Milei’s promise of a radical reboot via old-line shock therapy? In a world in which “we are all post-neoliberals now” (in the way that we were all Keynesians once upon a time) has the progressives’ Darth Vader, the International Monetary Fund, mended its ways? Can it push back against the paleo-austerity ideas of President Milei? Or will the world find out that the world’s last neo-liberal, an Argentine far-right devotee of libertarian economics, is just the ticket for the IMF’s return to form?
Before we go there let’s rewind and travel back to the annus horribilis of 1976. On 29 March, a civilian-military coup deposed Isabel Perón, who had assumed the presidency after her recently returned husband Juan died in 1974, and made Jorge Rafael Videla the de facto president of Argentina.
More here.