The Financial Times warned that Argentina could experience another "sovereign default"

British newspaper Financial Times warned of the possibility of "Ninth sovereign fault" in Argentina, when the warning that "reperfilamiento" means "a violation and possible damage to investors".

In criticism of measures announced Wednesday by Finance Minister Hernán Lacunza, the British media said that "the peso fell and bond yields exploded Thursday, in response to the debt restructuring project." At a press conference, the official confirmed that the government would repay the deadlines of the Argentine debt to the IMF and extend the payment terms with institutional investors.

"President Mauricio Macri has called for calm and dialogue with the opposition, while Argentina seeks to avoid a ninth sovereign default asking its creditors, including the IMF, to have more time to pay a debt of 101 billion dollars, "they said.

The article pointed out that a sovereign default would occur if "one of the major rating agencies states it, knowing that a country is not paying off all of its debts, that either late or incomplete payment or total rejection ".

"Countries can extend their payment terms without wasting time if they design a voluntary exchange of old bonds against new longer-term bonds, possibly by softening the deal by offering payouts." Higher interest in return, "he said. Financial Times. They also warned that this transaction "should not be forced but considered really voluntary".

"In the case of Argentina, it is likely that even a new voluntary profile concretely affects the bondholders and therefore constitutes a default," the paper said. In addition, they added that this defect would be "the ninth in the history of the country and the third since the turn of the millennium" compared to the case of Greece.

Finally, the article raises the question of the presidential candidate of Frente de Todos, Alberto Fernández. "An economic adviser close to him has expressed concern that these measures fail to restore the economic stability sought by the government, which could generate panic among Argentines who can not exchange their investments for money" they concluded.