Latin America

Argentina’s long history of debt defaults

Argentina is set to face yet another default. We look back at the country's history of unpaid debts, all the way back to its 1816 independence

Argentina’s long history of debt default
During Argentina’s 2001 crisis, Ramon Puerta (left) took office as president for a few hours, passing the torch to Adolfo Rodríguez Saá — who stayed in office for just eight days.

While Argentina is not facing a Covid-19 chaos close to what we have seen in Brazil and Ecuador, the country is mired in yet another financial crisis. On May 22, for the ninth time in its history, Buenos Aires failed to pay interest on its federal debts and began a 30-day countdown to another default. 

According to President Alberto Fernández, however, nothing really changed on Friday, as the country “has already been in default for months,” blaming the press for ignoring the story and only writing about it now. Indeed, Mr. Fernández’s comments hold water, as Argentina’s latest...

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