REAL ECONOMY

Witness:  Francisco Dos Reis
ALAMPYME (Argentina)

Points culled from rough translation: 

Argentina debt is US$180 billion, the highest debt per capita in the world. The situation is extreme. International financial institutions are loaning money to military dictatorships, illegitimate governments. They have no support from the people, 40 million of whom lives below poverty line, and should not have been allowed to borrow in the name of the people.

One thousand three hundred companies owe 40 percent of the debt. There are 5.2 million other debtors. The extreme concentration of wealth created destabilisation. Same companies that owe the debt are ruling a country without a way to govern itself.

Argentina is similar to many other countries in Latin America. Argentina produces 62 million tonnes of grain, 15mt wheat, 10mt soybean, 52 million head of cattle, etc. Someone said Argentina has one cow and a half per person. But 30 children die every day of hunger, according to statistics.

There is no balance growth in the country. Resources should stay within our country instead of sending to other country. Argentinean companies and people have US$120 billion in foreign banks, while economic adjustments have resulted in cuts in workers' salaries, and in health and education expenses.