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Argentina's Sovereign Debt Restructuring

Argentina's Sovereign Debt Restructuring

Hardcover

Business GeneralSouth American History

ISBN10: 1025145089
ISBN13: 9781025145082
Publisher: Hutson Street Press
Published: May 22 2025
Pages: 20
Weight: 0.47
Height: 0.25 Width: 6.14 Depth: 9.21
Language: English

In December 2001, after four years of deepening recession and mounting social unrest, Argentina's government collapsed and ceased all debt payments. Argentina has failed to pay before, but this time it registered the largest sovereign default in history. Argentina must restructure over $100 billion owed to domestic and foreign bondholders, including $10 billion held by U.S. investors. A final offer made in June 2004 amounted to a 75% reduction in the net present value of this debt, and although an improved offer is expected by year-end, it is still the largest proposed write-down in the history of sovereign restructurings, which foreign bondholders have rejected.

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