Argentine Bonds Could Be Worth Only 30 Cents On The Dollar After A Default
It was just days ago that we reported on PIMCO’s investment in Argentine bonds taking a major haircut due to the country’s collapsing currency. Now, it looks at though more pain could be on the way for investors who were savvy enough to participate in Argentina’s “growth opportunity” by buying the country’s bonds during the turmoil the country has faced over the last 2 decades.
It hasn’t even been two years since Argentina sold a $2.75 billion, 100 year bond and already another debt restructuring is a possibility, according to Bloomberg. After President Macri lost the primary election, analysts from