The economic crisis in Argentina in 2001 and Greece today share both similarities and differences, so we should be wary of stretching the comparison.
Argentina
Land
News
World Bank policies "enabling" African land grab
New research claims World Bank Group's policies facilitate land grabs in Africa and favour the interests of financial markets over food security and environmental protection.
Rights
Analysis
Debt and austerity - from the global South to Europe
In early May, more than 400 activists in Greece and campaigners and academics from across the world met in Athens to confront the current debt crisis of the European periphery and plan international solidarity and coordinated action against fiscal austerity imposed by governments.
Environment
News
Court finds fault with IFC-backed paper mill
Controversy over the Botnia paper mill, which was part financed by the International Finance Corporation (IFC), the World Bank's private sector arm, continues as the International Court of Justice (ICJ) ruled that Uruguay breached regional treaty obligations by failing to properly inform neighbouring Argentina when authorising its construction.
Conditionality
News
Debt crisis in Europe: Beware IMF bearing gifts
The descent of Greece into a sovereign debt crisis marks the first time a country that uses the euro has gone to the IMF. The fear of adverse market reaction has now moved Europe towards greater coordination and the G20 to argue against continued fiscal stimulus.
Environment
News
ICSID in crisis
The International Center for the Settlement of Investment Disputes (ICSID) is facing an explosion of cases and increasingly vocal criticism from Latin American countries. Questions remain over whether it helps channel productive investment to developing countries or serves as a tool for multinational corporations to get their way.
Rights
News
The Bank of the South: the search for an alternative to IFIs
Despite the political victory of transformative forces in South America, differences of opinion over the direction of the Bank of the South, a new regional development bank, may slow progress towards developing an autonomous alternative to the World Bank and IMF-dominated international financial architecture.
Finance
News
The IMF in Argentina: the search for relevance
Since Cristina Fernandez de Kirchner assumed the presidency in December the Fund has been involved with the renegotiation of Argentinean debt with the Paris Club and a controversy over official statistics.
Environment
News
Further embarrassment over Botnia
Minutes before cutting the ribbon of inauguration for the IFC-funded pulp mill owned by Finnish Company Oy Metsa Botnia in Uruguay at the start of November, Erikki Varis, CEO of the Finnish company was ordered to hold off by the Spanish government
Conditionality
News
Bank of the South to challenge IMF or IDB?
Argentine president Nestor Kirchner and Venezuelan president Hugo Chavez announced 21 February that the two governments would establish a Bank of the South within 120 days.
Rights
News
Uruguay pulp mills: “no risk”
IFC-commissioned impact assessment has found few environmental and social risks posed by the pulp and paper mills being built by Finland’s Botnia and Spain’s ENCE in the Uruguayan town of Fray Bentos.
Accountability
News
Bank stumped on Uruguayan paper mills
The IFC and MIGA have been unable to manage the international dispute created by their proposed investment in two pulp and paper mills in Uruguay, and show no signs of setting a board date for considering Bank support.
