Argentina Can Stop Its March Toward Default
Argentina Can Stop Its March Toward Default
There is nothing inevitable about Argentina’s looming default, writes a longtime emerging-markets economist.
Until recent weeks, Argentina's President Alberto Fernández and Economy Minister Martín Guzmán had been reassuring foreign investors that they were keen to avoid a repeat of the widespread default, financial isolation and humiliating legal defeats (in New York federal courts) that Argentina had experienced between 2002 and 2015 Guzmán was a mere college student in the early 2000s, but Fernández was deep inside the Casa Rosada, serving as cabinet chief from 2003 until 2008, mostly under President Néstor Kirchner – but also during President Cristina Fernández de Kirchner’s first...
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