No no no, you don’t get it, it’s not a “bailout,” it’s simply a “magic bean repurchase facility” whereby dollars are made available to holders of magic beans. When the magic beans sprout and reach the sky, the profit could be considerable.
Although, to be fair, I can see the perspective that argentine _debt_ is magic beans funded by hopes, wishes, and the IMFs argentine refinancing.
> Although, to be fair, I can see the perspective that argentine _debt_ is magic beans funded by hopes, wishes, and the IMFs argentine refinancing.
Exactly. FX isn't magic beans. The currency of a country that has defaulted more time than anyone cares to remember is magic beans though.
There is a reason for the old saying "There are 4 types of economies - developed, developing, Argentina and Japan".