Argentina: What Are the Requirements For Upgrade to Emerging Markets Status?
By: Divyansh Awasthi
For a significant period of time, Argentina was unable to borrow from international markets because of dispute with investors. The country had defaulted on its debt obligations in 2001 followed by 2014 as it did not adhere to court orders directing the country to repay its bond holders.
To resolve the deadlock and gain back access to international markets, Argentina decided to pay $4.65 billion in cash to Elliott Management, Bracebridge Capital, and others in March 2016.
Following this, the country raised $19 billion in foreign debt in 2016, issuing bonds after a 15 year gap. It plans to raise another $10 billion this year.
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