Argentina finds old habits die hard

摘要

Just over three years since closing a lengthy and bitter litigation with creditors, Argentina reopened the possibility of another drawn-out restructuring on Wednesday when the government announced it wished to reprofile billions of dollars in bond and IMF debt. With reserves quickly dwindling after several weeks of FX volatility stemming from President Mauricio Macri's loss in the August primary election, the government pulled the trigger on what it called a debt reprofiling sooner than many had expected.