Damage Control

ARGENTINA - Report 21 Aug 2014 by Esteban Fernández Medrano
This Market Brief was originally issued on August 20, 2014 as a post on GSP Direct, the GlobalSource Partners interactive webtool providing clients an initial response to breaking news and developments. In line with what might have been expected[1], the confirmation of Argentina’s legally induced default of its exchanged bonds issued under foreign law convinced the government to move ahead with “damage control” measures ahead of a complex debt negotiation scenario next year. Although the government continues to deny it is in default, as it has made all debt payments, for all practical purpo...

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