Analysts fear Argentina is sliding into a financial abyss after the government announced a plan to nationalize the country’s private pension system last month.
The government says the move is necessary to shore up people’s pensions, which are losing value on the back of a falling stock market. But analysts argue that it is nothing more than a ploy to ensure that the country can roll over its debt due over the next year.
The decision sparked panic among investors. The country’s stock markets tumbled by 10% after president Cristina Fernández de Kirchner signed a bill...
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