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Montevideo, August 15th 2020 - 20:47 UTC
Argentina will seek a new program with the International Monetary Fund whatever the outcome of talks with holders of its US$ 65 billion of defaulted overseas bonds, Economy minister Martin Guzman said. Read full article
The Begging Bowl is back out for MORE MONEY !???, if they cant afford the current Loans what makes them think they can afford New ones ?
It’s affordable when you consider they have no intention of paying the money back.
This will be for the next default.
Looking forward to see the usual Kirchner supporters condemn this as they condemned the Macri government for the very same sin.
It will be interesting to see what the interest rate is, if a loan is agreed.
“Argentina in 2016 returned to the international money market and started to take debt at interest rates of 7% when the rest of the world was working with rates almost at zero”, argued the minister.
Let us see if minister Guzboy can do any better.
That's the fun question...
...Argentina borrows capital at a high interest and initially pays back the principal with those high interest rates for a brief period, before defaulting...
Is all an elaborate Ponzi scheme that has only the Chinese and perhaps Iran interested yo negotiate... (Knowing the slippery Argentines, they'll obtain somehow a new emergency economic lifeline — perhaps from the IMF.)
And where is Enrique to explain how their borrowing at 7% is ok, but Macri’s wasn’t.
Otherwise we might not understand and come to a wrong conclusion.
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