What is Argentine debt crisis?
Argentina has
a dubious history of failing to repay the foreign exchange debt and bonds and
had defaulted for 7 times in history. After missing an interest payment on its
bonds on June 30, the country had a 30 day grace period to reach a settlement
with its holdout creditors — mostly the hedge fund Elliott Management — in
order to avoid default. That grace period was up on Wednesday and Argentina
defaulted for eighth time on Thursday, 31st July 2014.
