- May 6, 2020
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- Country
- United States
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- White Male
As of May 22, 2020, the Republic of Argentina has defaulted on its loans, due to a failure to pay creditors on time. This is nothing new for Argentina, as this marks their third default in 20 years and their ninth default since independence. Faced with a major debt crisis even before Corona, it was highly likely that things would turn out this way. It's worth nothing that the time they defaulted in 2001 resulted in litigation in US courts (Argentina agreed to New York jurisdiction when issuing the bonds back in the 80s and 90s) by the so called "vulture funds" and that court case caused their default in 2014. It remains to be seen what the fallout from their ninth default will be.
From this, I expect them to try ramping up rhetoric on the Falkland islands (an issue I'm very interested in), something they did back in the early 2010s in order to serve as a domestic distraction (and unifying issue) from the country's constant economic woes.
From this, I expect them to try ramping up rhetoric on the Falkland islands (an issue I'm very interested in), something they did back in the early 2010s in order to serve as a domestic distraction (and unifying issue) from the country's constant economic woes.