Haircut or fleecing?
Despite a booming economic revival, the Argentine government refuses to budge on its stated intention of repaying bondholders only 25% of their original investments. Josh Goodman gauges the reaction of bondholders and the wider market
Argentina’s ongoing economic recovery, praised as “spectacular” by US Treasury under-secretary for international affairs John Taylor, is certainly good news for the shell-shocked nation. Last year GDP surged 8.7%, ending a four-year recession that saw the economy sink more than 20% and pushed half the country’s 37 million people into poverty. In March the economy kept cruising at a 10.4% speed, thanks to growing consumer demand, a booming industrial sector and high commodity prices.
The only
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