A Sovereign Debt Story – Argentina vs NML Capital
Online Publication Date: 09 June 2014
1980s saw developing countries – Argentina being one of them – restructuring
their economies by way of deregulating their financial sectors and integrating
with global markets.
economist T Sabri Öncü recounts
points out in this 17 May, 2014, article in the New Delhi-based ‘Economic & Political Weekly’, however, the policy shifts taken by Argentina beginning in the
mid-1970s rendered the economy highly vulnerable to changes in the
international arena, and has taken the country from crisis to crisis, up to the
present legal pressure the country faces from US holders of old Argentine debt.
country needs to be very careful, Öncü concludes, when reorganising its economy
into a free market and integrating it with global financial markets.