The new government of Alberto Fernandez must now deal with Argentina's least favourite international organisation.
The euphoria that accompanied João Lourenço's new presidency has ebbed away amid the stark realities of a profoundly dysfunctional political economy.
How South African manages the fallout from its likely downgrade by Moody's in November will determine whether the country will be forced to turn to the IMF for a bailout.
Quantitative easing cannot single-handedly save Europe.
The Greek rejection of the bailout means it's time to brace ourselves: Grexit is now an 80% probability.