Argentina Set To See Ridiculous Demands Rejected Friday

Argentina self imposed deadline to renegotiate nearly a fifth of its foreign debt is likely to pass this upcoming Friday with no deal while an interest payment of 500 million USD comes due. Argentine despot Fernandez has publicly proposed creditors discount the balance on 66 billion USD of debt by 62% of the outstanding interest and 5% of the principal with a three year grace period where Argentina makes no payments. According to Fernandez:

"No hay pagos de la deuda que se puedan sostener sin que el país crezca. No queremos que los acreedores no ganen, queremos que acepten ganar menos"

The creditors, represented by three different creditor's committees, have allegedly made counter offers which have not yet been made public.

4 Responses to “Argentina Set To See Ridiculous Demands Rejected Friday”

  1. Norte Americano says:

    This movie has been shown in theaters before. A country of self-contradictions.

    https://en.wikipedia.org/wiki/Economic_history_of_Argentina

    Since independence from Spain in 1816, the country has defaulted on its debt eight times and inflation has often been in the double digits, even as high as 5000%, resulting in several large currency devaluations.

    I do like some of their wines. The Malbec is unique.

    • Aaron Rogier says:

      Well, seems it is about to become official in just a few hours now.

  2. butthurtven says:

    Time to open a bottle of good Malbec and read some of MP's best pieces on Argentina.

    http://trilema.com/2015/latino-perspectives/
    http://trilema.com/2015/argentina-for-business/

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