Courtroom drama: Argentinian sovereign debt
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In July 2014, Argentina defaulted on a $539m interest payment on its sovereign debt in the latest round of its ongoing legal dispute with bondholders.
By any usual standards, the dealings between Argentina and a minority of its bondholders ought to have been a low-key last act to the drama of the country’s 2001 default. Instead, it is turning into a morality play in which both sides claim the high ground and questions of national sovereignty and security of contract clash noisily in what is becoming an increasingly acrimonious dispute.
Andrew Wilkinson explains in an article first published in October 2014 in The Treasurer, the official magazine of the Association of Corporate Treasurers.
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