This is from Jan.2015the economist.
Initially,“Argentina may spurn a chance to settle with its creditors”has highlighted the central theme.
After its previous default(in 2001), the repeated default in 2015 has put its imports in danger, causing few dollars are flowing in. Because the government was not satisfied with the court’s ruling, it decided to default, which have dwindled its foreign-exchange reserves to 30 billion, less than needed to pay for six month’s imports. Most people hold the views that the real obstacles to paying off the holdouts have always been political rather than contractual. Moreover, some skeptics think as she will stand down as president after elections next October, the simplest solution would be to hand off the debt fiasco to the next president—and let the economy pay the price. If the suspect is true, she is a selfish and irresponsible president and a gloomy future will be coming for Argentina.
