Argentina on brink of debt default
July 30 , 2014
Argentina is staring at its second debt default in 12 years. Hopes of any deal with ‘vulture fund’ bondholders have not materialized.
If Argentina does not pay the required amount, it will default on its debt obligations, technically.
However, according to the International Monetary Fund, because of Argentina’s relative isolation from international markets, the impact of such a debt default on other nations would be limited.
Meanwhile, the country's economy minister, Axel Kiciloff has blamed the crisis on “attacks by speculators supported by central nations.”