Por Miguel A. Kiguel
Todos sabemos cómo funciona el cepo, y hemos aprendido a vivir con tasas de interés reales negativas, a usar el dólar Contado con Liqui para eludir los controles...
Toying with default: How long can it last?
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Toying with default: How long can it last?
Agosto 2014
In the end there was a default, though not a standard one. Argentina is solvent and it has shown ability and willingness to pay. The Government is even arguing that the country is not in default, as it transferred the funds to service the Discounts bonds to the account that the Bank of New York (BoNY) has at the Central Bank.
The default is a fact because the BoNY has a restrained order that prevents it to transfer the funds to New York in order the make the final payments into the bondholders’ accounts. Supporting this view was ISDA’s decision to trigger the CDS.