July 31, 2014

Argentina Defaults: Eighth Time's the Charm?

The Economist, The Economist

The Associated Press

ARGENTINA’S first bond, issued in 1824, was supposed to have a lifespan of 46 years. Less than four years later, the government defaulted. Resolving the ensuing stand-off with creditors took 29 years. Since then seven more defaults have followed, the most recent this week, when Argentina failed to make a payment on bonds issued as partial compensation to victims of the previous default, in 2001.

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TAGGED: Argentina, Cristina Fernandez De Kirchner