Argentina’s long history of debt defaults
The country defaulted on its foreign debt five times in its history, with 2019 being the latest in an episode that might still not be over
The country defaulted on its foreign debt five times in its history, with 2019 being the latest in an episode that might still not be over
Defaults and hyperinflations have historically created clean slates to restart the economy, but at massive cost for those involved
Different types of funds and different groups of bonds mean avoiding default is not equally likely across all assets
Economy Minister offers 3-year grace period, 62% haircut on interests and 5% reduction in capital, but bondholders are not convinced
Debts with the taxman, providers and employees pile up, as unions negotiate wage cuts and rollout of emergency subsidies begins
Private and public coffers can't keep up with bills, leading to bouncing checks, debt defaults and payroll delays
Analysts are divided on whether the recent plunge makes bondholders more prone to accept an aggressive proposal
Lockdown will steepen recession, with little dry powder left for counter-cyclical measures
Government admits to underestimating virus at first, as country prepares for harsher measures amid worsening economic crisis
Fund backs calls for private debt holders to accept losses, while Argentina opens the door to IMF economic reviews