Soaring Debt Problem Meets Inadequate Solutions, Say Financial Experts

18 December 2023

During Argentina’s 2001 debt crisis, Martin Guzman witnessed devastating economic collapse and severe austerity measures imposed by the IMF. This experience led him to study economics and eventually, as finance minister, negotiate a $44 billion debt restructuring with the IMF. Now, Guzman and other leading economists argue that the post-World War II economic framework, anchored by the IMF and World Bank, is failing to ensure growth and stability.

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