What years did Argentina default on its debt?

When Argentina defaulted on more than $80 billion of debt in 2001, it led to years of litigation and legal cases taken by several disgruntled bondholders. Some roots of the present crisis can be found there. The bondholders eventually won in court, leading to another default in 2014 before a settlement in 2016.

How many defaults has Argentina had?

nine times
Since independence from Spain in 1816, the country has defaulted on its debt nine times and inflation has often been in the double digits, even as high as 5000%, resulting in several large currency devaluations.

Why does Argentina always default?

Last May, three months after COVID struck, Argentina defaulted for the second time in two decades when it failed to pay interest on debt to private creditors. The sovereign default was its ninth since independence from Spain in 1816.

Has Argentina ever defaulted?

Argentine financial crisis On December 26, 2001, Argentina defaulted on a total of US$93 billion of its external debt; of around $81.8 billion in bonds that were defaulted, 51% were issued during this three-year period.

Why is Argentina defaulting?

Argentina has a checkered history as a country that relies on foreign investments to fund government operations. In 2002, its currency collapsed, leading to a deep financial crisis. As a result, Argentina defaulted on its debt in 2002, triggering years of litigation with creditors in New York.

Why is Argentina always in crisis?

The pandemic has accelerated an exodus of foreign investment, which has pushed down the value of the Argentine peso. That has increased the costs of imports like food and fertilizer, and kept the inflation rate above 40 percent. More than four in 10 Argentines are mired in poverty.

Who bought Argentina 100 bond?

Autonomy Capital
Autonomy Capital, a hedge fund that bought Argentine debt including the century bond, lost nearly $1 billion before recouping some of those losses more recently, according to a person familiar with the matter.