Author : J. F. Hornbeck
Publisher : DIANE Publishing
ISBN 13 : 1437937284
Total Pages : 18 pages
Book Rating : 4.4/5 (379 download)
Book Synopsis Argentina's Defaulted Sovereign Debt by : J. F. Hornbeck
Download or read book Argentina's Defaulted Sovereign Debt written by J. F. Hornbeck and published by DIANE Publishing. This book was released on 2010-11 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Dec. 2001, Argentina suffered a severe financial crisis, leading to the largest default on sovereign debt in history. In 2005, Argentina made a one-time unilateral offer on terms highly unfavorable to the creditors. Although 76% of creditors accepted the offer, a diverse group of ¿holdouts¿ opted instead for litigation in hopes of achieving a better settlement in the future. Argentina still owes private creditors $20 billion in defaulted debt and $10 billion in past-due interest, as well as $6.2 billion to Paris Club countries. Contents of this report: Recent Developments; Background to the Current Debt Restructuring; Restructuring Sovereign Debt; Argentina¿s Debt Profile and Rationale for Restructuring (Again); The 2010 Exchange; Outlook. Illustrations.