Yes, budgetary waste exists, but it is not the cause of an extreme macroeconomic crisis. The recession was mainly caused not by budgetary spending, but rather by Brazil's sharp devaluation of its currency in February 1999, a step which made Argentina's own Peso uncompetitive and led investors (rightly, it turned out) to expect a similar devaluation in Argentina.
国际货币基金组织却不幸在阿根廷的问题上忽视了凯恩斯。阿根廷的预算赤字日益扩大，主要是1999年以来阿根廷经济崩溃的结果，而非阿根廷经济崩溃的原因。1999年经济陷入衰退前，阿根廷的赤字一直比较适度。预算浪费的问题的确存在，但不是这场宏观经济极端危机的根源。经济衰退并非主要由预算开支引起，而是由1999年2月巴西货币大幅贬值造成。巴西货币大幅贬值使阿根廷比索失去了竞争力，导致投资者（结果被证明是正确地）预期阿根廷货币也会出现类似的贬值。