P. Edronkin

Argentina, the case for Neo-Communism? (XVII).

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The situation is well-known; some of the bank's executives are in jail, others are being investigated - including Mr. Mulford. This does not mean necessarily that these persons are actually part of the fraud, but notice should be taken about certain facts which may suggest foul play.

During May 2002, the IMF set its conditions for helping (?) Argentina out of its economic depression. Although some economists - including some Nobel Prize winners and Harvard University researchers - sustain that the IMF has a good deal of responsibility regarding what happened to the South American country, many of the points raised by the International Monetary Fund as well as other governments are right. Argentina indeed has to improve on many departments. It's the method that is wrong, according to various reputable studies.

However, one of the conditions that the IMF initially imposed on Buenos Aires was that the Argentine Congress should nullify an old and arcane law which was never questioned before by the IMF, which conducted more than fourteen prior audits on the country since 1983, and was not questioned by anyone, for that market.

This norm, known as the 'Economic Subversion Law' was passed by the Argentine Congress back in 1975. It essentially states that when an economic or fiscal misdeed is of a significant scale so as to put in peril the security of the state or that of a sizable number of citizens, the alleged felony would not be treated as fraud, but as subversion or terrorism.

This law, passed by a government which was a democratic one, by the way, is said to be much too vague, giving judges unadvisable freedom and power to deal with such cases, which would (and has, according to some sources) lead to extortion attempts against businesspeople and companies.

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