The Argentines are now poorer than they were ten years before the reforms and privatizations took place. More people than ever before are less confidence of the capitalist system. The reaction of Argentine people has been to fight back through protests, strikes and blockades. There has been road blockades and a general strike. After the crisis of the last several years the government of Ecuador has been getting some extra revenues from high oil prices.
Problem is that the international creditors, mostly foreign banks and governments, want that money.
They have aggressively pushed for appointment of government officials that make debt payment a number one priority. Last month they helped push out the finance minister who was not aggressive enough on this and was replaced with one that favors the interests of investors. While pushing on the debt payment, the IMF and foreign businesses are pushing for further privatization of the country's public companies. These include the telecoms and electricity utilities. And these businesses want to buy them at cheap prices as well.