NINE DEFAULTS OF ARGENTINA: NATIONAL TRAGEDY OR POLITICAL GAME?
Abstract
The article examines the history of nine defaults - both technical and sovereign - that occurred in Argentina between 1827 and 2023. The reasons for the emergence of crisis situations in which a country declares the impossibility of paying off debts on financial obligations, and the consequences associated with this event: economic, political and social upheavals in society, are examined. This work also explains the economic situation in Argentina in 2023, in which the national economy is literally in a fever, inflation for the year reaches 142 %, the national currency is collapsing, the dollar costs 339 pesos, the key rate of the Central Bank of Argentina has risen to 133 %, enterprises are in debt to their employees, and 140 out of 146 million people live below the poverty line. A series of changing presidents, whose coming to power does not improve the economic situation, but only takes them away from the problems for a short time. The work also examines the motives that encourage creditors to provide financial injections to the country that may soon enter a state of a new, tenth default.
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Published 2023-12-27