Debt and Disease
Despite suffering a near-fatal economic blow from COVID-19, Argentina's government has managed to restructure its sovereign debt, setting the stage for an eventual economic recovery. With many more countries heading for debt crises in the near future, now is the time to heed the lessons of Argentina's success story.
BUENOS AIRES – The COVID-19 pandemic will undoubtedly be remembered as one of the most difficult episodes in the history of modern capitalism. But it is difficult for different countries in different ways, which is reflected in the policies their governments have adopted. And nowhere are the difficulties greater than in highly indebted countries.