Close to Default, Argentina Braces Itself for Historic Recession

The country was already heading toward its third recession year and was suffering from a lack of access to international credit, when it was confronted with the challenge of Covid-19.

RIO DE JANEIRO, BRAZIL - Even without the coronavirus pandemic, Argentina's economy would not have had an easy year.

Argentinians were heading toward their third recession year and were facing galloping inflation, fiscal crisis, and a lack of access to the international credit market, when they were forced to confront the challenge of Covid-19. Now, the country is heading for the worst economic moment of the past 20 years.

Yesterday, Argentina announced that its . . .

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