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In the 90s, Argentina's debt continued to accelerate. Their lender of last resort, the IMF, continued to lend and extend payment daily schedules. Much IMF funding stems from the Oughout.S. Our lender of last resort, the Fed, has continued to give the government and for everything intents and purposes, are extending payment schedules since debt is continually rolled . Consider the Fed does this so as to to fill a void by reluctant private lenders at currently low percentage of interest and preserve those same interest rates low - yet more distortion.