Far from “bailing out” Greece, the impacts of eight years of harsh austerity are manifested in a marked increase in poverty, suffering, and want. And far from “ending,” the austerity measures attached to Greece’s three successive “bailouts” are slated to continue for decades to come.
About $15 billion from the credit line would be immediately available to Argentina after the package is approved by the IMF’s board, which is expected on June 20. The rest would be dispersed as needed as Argentina meets its targets.
Just a few weeks after Argentina became ground zero for the coming Emerging Market crisis, when its currency suddenly collapsed at the end of April amid soaring inflation, exploding capital outflows and a central bank that was far behind the curve (as in "13% of rate hikes in a week" behind)... ... the IMF has officially