On August 5, after 30 hours of negotiations, the Argentinian government announced that it had come to a long-awaited agreement with its private creditors, allowing it do restructure its debt of almost USD 65 billion in foreign loans. The deal is a simple one: for every USD 100 the country owes its creditors, Buenos Aires will pay USD 54.80.
This agreement doesn’t just allow Argentina to emerge from its “technical moratorium” status — which is how Economy Minister Martín Guzmán refers to the country’s ninth debt default in May this year — it also represents USD 30 billion in...
