Second bankruptcy within 13 years

01.08.2014 10:42|Conotoxia.com

Author: finanse.wp.pl
Address: http://finanse.wp.pl/Drugie-bankructwo-w-ciagu-13-lat
Published: 01.08.2014

It is not exceptionally rare for countries to declare bankruptcy. However, it is rare for a recognized country which is a member of G20 to announce insolvency for the second time within as little as over a dozen years. Interestingly enough, it takes one fund and one unfortunate provision in the contract with the loan holder to cause such situation. (...) According to the official data, the indicator of prices of consuments in Argentina is as little as 10% y/y, while economists estmate it to reach 40%. This could be confirmed by the moves of the currency which official rate hit 5.14 per dollar in April this year (now it is 8.20) and unoficially it rose from 8.5 to the level of 13.

Marcin Lipka, Cinkciarz.pl analyst

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