The Mudcat Café TM
Thread #43992   Message #648915
Posted By: Escamillo
13-Feb-02 - 03:23 AM
Thread Name: BS: Still alive in Argentina
Subject: RE: BS: Still alive in Argentina
I deeply appreciate your concern, friends. For those who don't know this country, it could be interesting to review some curious facts about our economy, appart from areas more widely known, as musical and cultural subjects, and intellectual personalities.

1) Argentina's national debt is now 140 billion, about one half of the national yearly gross product.

2) Deposits of Argentinean citizens abroad, mainly in Miami, NYC and Washington, amount to 140 billion.

3)Deposits of dollars captured in local banks and local branches of international banks are approx. 60 billion which they promise to give back in local currency devaluated 100% and adjusted by the official(?) inflation index, in a long program from 2002 to the end of 2005.

4) Dollars are on sale (at twice their original value) for anyone who was smart enough to withdraw pesos from the banks before December 4 and rich enough to not need them.

5) Transference of dollars to USA and Europe by large international corporations amount to another 60 billion approx., which are the internal debt of those corporations in Argentina, and which will come back as soon as they consider that the value of the dollar is convenient enough. (Now they could pay their debt with only 30 billion and save 30 billion, but they could be expecting more)

As you can see, poor nations may be not so poor, and important politicians and corporations could be the worst of the thieves.

Back to music! Next saturday I'll have an admission exam at a small but excellent opera group called Open Opera.

Un abrazo - Andrés (TV shows only the nasty part of this tragedy - we keep working and fighting)