CFK blocks US$2.4billion payment to Club de Paris

    • Official Post

    Stupid question: who's in charge? Maybe this pictures answers that question.



    Apparently she doesn't want to negotiate the debt with Club de Paris. In fact, she believes the debt shouldn't be paid and has told Guzman, the economy minister, to use IMF funds of around US$4 billion to combat poverty instead of paying the debt.

    This will surely produce a default if not sorted within 60 days and one wonders about Alberto's European tour, if all his cap in hand and bowing and scraping come to nothing, by being undone by the real power behind the throne.

    • Official Post

    I still not understand if Argentina never pays, if they pay late, or if they pay what they want and when they can/want.

    Richer countries and 'inversionistas' keep lending to Argentina at extortion rates, Argentina keeps borrows because it is a bottomless hole...

    At this point, I don't know whose fault it is or perhaps it is a game that both parties are willing to play.

  • I still not understand if Argentina never pays, if they pay late, or if they pay what they want and when they can/want.

    Richer countries and 'inversionistas' keep lending to Argentina at extortion rates, Argentina keeps borrows because it is a bottomless hole...

    At this point, I don't know whose fault it is or perhaps it is a game that both parties are willing to play.

    Indeed....it's crazy.