Call our team +44 (0) 207 566 3939

BLOG

Argentina defaults for the second time

Argentina has defaulted for the second time in 13 years

It is now the second time Argentine has defaulted on its debt, this will be the second time in 13 years. It was hoped that discussions being held in New Your with a group of bond holders would be successful however it has ended in failure.

The bond holders we requesting a full pay-out of the $1.3 billion on the bonds they hold. Argentina stated they ant afford to purchase the bonds back and suggested the bond holders were using the debt crisis to cash in and make a profit out of them.

The last time Argentina defaulted was in 2001, a US judge has given a deadline of 04.00 GMT for a deal to be agreed. The Argentine Minister has said that the Bond Holders rejected their latest offer.

The latest default is not expected to have the same effect on the economy as it did in 2001. In the 2001 default many people were protesting and dozens were killed, authorities froze many savers accounts in order to stop a run on the banks.

If you found this economy blog interesting you can read more insightful articles in our economy and business blog sections

Related Category Posts

What Is Your Company’s SIC Code?

What Is Your Company’s SIC Code?

Once you register a company, advisably through a company formations agent who will comprehensively manage all necessary communication with Companies House and remedy start-up teething issues, you’ll be met with a plethora of important numbers and...

read more
Certificate of Incorporation: How to Get a Replacement

Certificate of Incorporation: How to Get a Replacement

After you register a company, advisably through a company formations agent who can competently manage communication with Companies House, you will receive the all-important certificate of incorporation. Depending on how you registered your company,...

read more

Capital Office Ltd is registered in England and Wales: Registered Address: Kemp House 152 – 160 City Road London EC1V 2NX

Company Number: 06294297 | VAT No: 976201416 | ICO No: ZA084808 | Anti-money laundering registration number: XZML00000125126

© Copyright 2019 Capital Office Ltd - All Rights Reserved

Please click here to view the latest businesses using our address without authorisation.