Originally Posted by
spainflyer
The possible Argentine default seems to have been eclipsed by the imminent Russian default (owe 150 billion USD, want to pay in worthless rubles, bonds now fetching 10 cents on the dollar). So maybe the IMF doesn't want two major defaults at the same time, so is going easy on los albicelestes for now. Come on, MálagaJuan, give us your best insight.
The deal with the IMF seems to make the prospect of any Argentine default unlikely at least over the next few months. Having said that there is still no economic plan to sort out the crisis - no surprise really as there hasn't been one for some length of time. Inflation is increasing yet again and many independent experts are talking about a rate of 55/60% for this year. Right now the annualized rate is 55%.
Fernandez has announced plans for the fight against inflation will be announced on Friday - should be a bit of a laugh as their record at taming inflation is absolutely hopeless.