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/ All categories of countries are / September 2014 Argentina’s new Report Card

September 2014 Argentina’s new Report Card

Post available in: English

A month is long time in politics

n June 2014 economists and industry watchers were becoming slightly optimistic that Argentina was starting to become a more responsible world citizen. They had settled the outstanding Hague Rulings against them, settled the YPF nationalization issues, and had modified the inflation indicators as requested by the World Bank and others. The thought was if this continued the drain on US Dollar reserves would reverse and indeed fresh capital might start coming in.

However by September 2014 it had all gone downhill. They out of pride, ignorance or incompetence failed to negotiate a settlement with the Hedged Funds  ( they had 10 yrs to do this ) they owed a relatively small amount of money to, leading the country into an unnecessary new default.

The effect was to tip the country into a full-blown recession or worse.

Unless Argentina grows up and shows more respect to international law and institutions they will continue to be blacklisted as a rogue state. The continual pattern of encouraging international investment then once it is in place strangling its ability to get a commercial return on investment so they can steal it at a low price has left the country starved for capital.

Only a complete attitude turn around will change this.

 

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Post available in: English

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