Argentina: the liberal experiment at a critical crossroads

By Miranda Xafa

A public debt auction was held with paradoxical ease in June 2017. Argentina – a country with a long history of defaults – sold $2.75 billion of 100-year bonds denominated in US dollars at a yield of 7.9 per cent, just a year after the country settled its 2014 default – the 8th in its history. That settlement took two years to resolve, in part because US