Argentina Declared in Default
Even after numerous socialist policies including nationalizing a number of private industries, Argentina's debt has only progressively skyrocketed. Creditors who loaned Argentina money aren't happy that Argentina has refused to pay them their interest due.
“Argentine Economy Minister Axel Kicillof described the group of creditors as “vulture funds” and said the country wouldn’t sign an accord under “extortion.”
“Argentine Economy Minister Axel Kicillof described the group of creditors as “vulture funds” and said the country wouldn’t sign an accord under “extortion.”
http://www.bbc.com/news/business-2857817...
China lends Argentina $7.5 billion for power, rail projects
http://thebostonjournal.com/2014/07/19/c...