Reasons to Cry For Argentina

摘要

For the better part of a decade, overseas investors have viewed Argentina as a pariah: After a currency collapse in 2001, the country suspended payments on some $95 billion in foreign debt-the largest sovereign default in history. Then in 2005, the government offered creditors, ranging from Italian pensioners and American teachers' unions to Wall Street hedge funds, just 30￠ on the dollar if they agreed to swap their old bonds for new notes. About three-quarters of the debt holders grudgingly accepted the deal.rnSo it should be good news that Argentine President Cristina Fernandez de Kirchner is trying to return to the good graces of the global investment community.