Buenos Aires province US$ 227 million debt payment on Jan 26, a major test for creditors

Friday, January 10th 2020 - 09:57 UTC

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Argentina's debt talks will face their first big test this month with a US$ 277-million payment due on a Buenos Aires provincial bond, seen as a gauge of how the indebted nation's new government will handle its creditors. Read full article

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Enrique Massot
What a difference four years make -- when Mauricio Macri started his presidency, he immediately started to borrow like there was no tomorrow, all the while complaining about the “heavy inheritance” he had been dealt by the previous CFK government.

Now, Alberto Fernandez takes office and must face immediate payments to principal and interest due to Macri's heavy borrowing. Fernandez has also said Argentina will not take the remaining of the IMF's loan promised to Macri.

Macri, who had declared a “return to the world” to justify paying a group of financial vultures more than they had asked, created more debt than declared by not paying Argentina's United Nations membership for the last three years, being in arrears to the tune of 106 million US dollars.

Macri, who also hired hundreds of public employees during his last months in office, stopped paying membership in several other international organizations.

Quick to raise allegations about CFK, an image of Macri as a serial crook is beginning to appear.
Jan 12th, 2020 - 12:02 am - Link - Report abuse 0
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