The Financial Times anticipates a new default | Lapi …

"President (Mauricio) Macri called for calm and dialogue with the opposition, while Argentina seeks to avoid a ninth sovereign defect that urges its creditors, including the IMF, to dispose of more than time to pay a debt of $ 101 billion, "said the British newspaper, He pointed out that" the peso has collapsed and that bond yields have exploded on Thursday, in response to the proposed debt restructuring " by the ruling alliance.

The paper therefore describes the path to follow to fail: "In general, the major credit rating agencies declare the default when a country does not meet all its obligations in terms of debt, that it delays or does not pay the payments, or does not pay them completely ". In this case, the debtor countries "can extend their payment terms by voluntarily repaying the old bonds against new longer term bonds, softening the agreement with higher interest rates". Although it clarifies that the exchange "should not be forced if it wants to be considered really voluntary".

That's where the Financial Times strongly emphasizes the current government and compares Argentina with Greece: "In the case of Argentina, it is likely that even a new voluntary agreement will in practice harm Argentine bondholders and thus constitute a breach of obligations. contractual. : the ninth in the history of the country and the third since the turn of the millennium ".

In other words: "Although Argentina is only asking for a voluntary extension of the due dates, without any reduction of interest or capital, the fact will probably be considered another defect. sovereign by certain measures ".

At the end of the note, the Financial Times He refers to the opposition and declares that an "economic advisor" of Alberto Fernández, winner of the August 11 primary and future virtual president "is worried that these measures fail to restore the economic stability that the government is re-establishing in search of, which could generate panic among Argentines who can not exchange their investments for money. "