Wednesday, May 6, 2020

Restructuring Argentina’s Private Debt is Essential

JOSEPH E. STIGLITZ, EDMUND S. PHELPS, CARMEN M. REINHART

Argentina's creditors are being asked to accept a proposal that would reduce their revenue stream but make it sustainable. A responsible resolution will set a positive precedent, not only for Argentina, but for the international financial system as a whole.

Read rest and list of signatures here.

1 comment:

  1. The largest holders of government bonds in Argentina rejected a government proposal to restructure foreign debt. The fund encouraged private lenders to meet Argentina and significantly reduce its debt burden. The coronavirus pandemic exacerbated the country's economic problems. According to IMF forecasts, its GDP will decrease by 5.7% this year.

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