Jun
02
Argentina Is Racking Up Debt Even Faster Than During Its 2001-2002 Crisis
ByThe country’s budget balance swung into a big deficit in March, from a modest surplus only a year earlier
One gets a strange sense of deja vu looking at Argentina accumulate debt even faster than in 2001, the year of its infamous default.
The government announced last week that the primary deficit, which excludes debt payments, jumped to 17.4 billion pesos ($1.93 billion) in March, compared with a 3.6 billion peso surplus just one year earlier. The last time Argentina posted a shortfall for March was in 2002, three months after reneging on a record $95 billion of debt…
Argentina Is Racking Up Debt Even Faster Than During Its 2001-2002 Crisis
