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President Cristina Fernández de Kirchner, pictured here belying her combative tone |
Argentina’s long-running and complicated default saga has enthralled emerging market bond investors. A dramatic finale is not expected any time soon.
Argentina has effectively been locked out of global capital markets since 2001, when it defaulted on around $95 billion of debt, then the biggest sovereign default in history. At some point, though probably not until a new president is in office in 2016, Argentina will have to make its way back to the international markets.
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