DNYUZ: Argentina Teeters on Default, Again, as Pandemic Guts Economy
BUENOS AIRES — Argentina is hurtling toward default on international loans in two weeks, a prospect that threatens to revive its reputation as a serial deadbeat and global financial pariah that could haunt the Latin American country long after the coronavirus pandemic is over.
If Argentina defaults, which as of Friday appeared likely, it would be the third time in two decades that the country has failed to meet loan payments after having amassed billions of dollars in foreign debt in a deepening spiral of economic dysfunction. Argentina would join Lebanon as the first defaulters in the financial tumult caused by the coronavirus.
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Update #1: As pandemic continues, Argentina faces bankruptcy again (DW)
Update #2: Argentina debt deadlock remains as president says talks to continue (Reuters)
WNU Editor: Argentina was behind in its debt payments before the pandemic. The pandemic just puts a nail in the coffin that Argentina will not pay. But I do think Argentina is going to be in a surprise this time around. For as long as I can remember Argentina would go into debt, declare it cannot pay, default, and after a few years the cycle would repeat again. But this time around money is short. The global economy is facing a crisis that has not been seen since the Second World War, and countries are responding in a manner where the interests of their citizens are the priority. Bottom line. No one is going to lend their money to unreliable countries like Argentina. No one.
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