Lack of Confidence, Argentine Government Main Challenge in its First Year

The central bank, which had shelled out funds to prop up the peso and to fund government spending, moved in recent months to ease fears about its dwindling reserves, which some banks and analysts estimate is around zero in net terms.

RIO DE JANEIRO, BRAZIL - Argentina's current government has had a wild ride in its first year of government: a sovereign default, huge debt restructurings together with sliding reserves, a currency crisis, a weak economy battered by COVID-19, and massive money printing.

There have been wins and losses since taking office in December last year. Debt deals were struck that allowed the government to revamp some US 65 bilion in foreign currency bonds and push repayments well into the future. Talks with the International Monetary Fund remain positive for the restructuring of a US$ 44bn loan extended to the . . .

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