Argentina has constantly been trapped over two centuries in unpayable external debt owed to foreign imperial powers. This affects the everyday life of everyone: inflation, salaries, employment, public services, elections. Here is a brief history of the deuda.
It really boils my piss how often media here in the US fearmongers about “Chinese debt-trap diplomacy” when we literally have hedge funds whose sole purpose is to do exactly that. Well, not the diplomacy part, the debt-trap part. Straight up profiting off catastrophes by taking entire countries to court… American court. Yet we’re always touting about respecting democracy and sovereignty and rules-based order.
This is the first time I’ve heard of the Foreign Sovereign Immunities Act. It’s utter bullshit that the US can indebt a country, privatize their industries, steal their resources, and then force them to pay off the loan that didn’t even buy anything besides some capitalist’s 7th yacht.