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By all accounts, the country is essentially bankrupt: burdened with a 150 billion dollar foreign debt, which saps 30% of the GDP in interest payments alone, the unemployment rate has soared over 20% and the ecomomy's growth rate has plummeted from 8% to less than 1% in the last five years. Austerity measures - a prerequisite for IMF and World Bank foreign debt repayment loans - have been felt heavily by the population, which has seen its purchasing power halved since 1997. Faced with an ever-shrinking tax-base and an economy grinding to a halt, recent governments have relied on relentless salary cuts and appropriation of social security funds in order to meet their budgetary needs...
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