Economist Podcasts Systemic concerns: China’s party congress
May 22, 2020
In this discussion, Simon Rabinovich shares his insights into China's political shifts and the implications of new legislation affecting Hong Kong, hinting at potential unrest. David Smith analyzes Argentina's looming debt crisis as the nation grapples with the threat of default and the pandemic's economic fallout. Meanwhile, Anne Rowe reflects on the life of Yvonne Boland, celebrating her contributions to Irish poetry and the exploration of women's voices in literature. Together, they tackle pressing global issues and the intersecting stories of resilience.
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Argentina's Economic Downturn
- Argentina's economic downturn began in 2018 under President Macri, exacerbated by peso devaluation and a drought.
- Macri secured a record $57 billion loan from the IMF, contributing to the current debt crisis.
Dual Crisis in Argentina
- President Fernandez aimed to avoid default by prioritizing growth, but the pandemic struck soon after he took office.
- Argentina now faces a dual crisis of debt and pandemic.
Pandemic's Impact on Argentina
- Fernandez's swift lockdown limited COVID-19's impact but worsened the economy.
- The IMF and even Pope Francis called for leniency from creditors.