The palindrome of Kirchnerismo
Default gives Argentina’s president a political advantage, but not for long
IT IS a rainy Saturday morning, three days after Argentina defaulted on part of its foreign debt. In a damp and flimsy shack in Salas, a settlement of muddy lanes and foul streams on the outskirts of Buenos Aires, Ramon Gallardo and his neighbours listen attentively to staff from TECHO, a housing charity. They are briefing residents about the 15 one-room huts they will build in return for a nominal contribution of money and labour. TECHO has erected many of its sturdy, weather-proof huts in struggling Haiti. But there are takers in rich Argentina, too.
Many of them are among the 20-30% of Argentines who, according to unofficial estimates, live in poverty despite a decade of economic growth. Now Mr Gallardo is worried that his work as a casual building labourer will dry up. “They told me the job I’m on will stop because of the default,” he says.
This article appeared in the The Americas section of the print edition under the headline "The palindrome of Kirchnerismo"
More from The Americas
Why Ecuador risked global condemnation to storm Mexico’s embassy
Jorge Glas, who had claimed asylum from Mexico, is accused of abetting drug networks
The world’s insatiable appetite for Canada’s maple syrup
Production is booming, but climate change is making output more erratic
Elon Musk is feuding with Brazil’s powerful Supreme Court
The court has become the de facto regulator of social media in the country