Graphic | After the STEP, the probability of default has increased

The cost of covering Argentina's sovereign debt against losses reached Monday several years at most, after President Mauricio Macri was unexpectedly and overwhelmingly defeated in a main vote, indicating a possible return to the policies of his predecessor, Cristina Fernández, candidate for the vice-presidency of the competing formula. Prior to Macri's presidency, the South American country had been shut out of the financial markets for about fifteen years, having crossed about $ 95 billion in bonds. Credit default swaps in Argentina now suggest an implied default probability of 75% over the next five years, according to data collected by Bloomberg.