Comment Comment by neilwilson Except Argentine debt is largely in US dollars, so they didnt do that.The US dollar bit is the problem.From the perspective of anybody outside the US the US dollar is a bond - a zero percent bearer bond.Therefore it is nothing more than a bond swap with a change in interest rate and term. The entity “owing” doesn’t change parent neilwilson 2 years ago
The US dollar bit is the problem.
From the perspective of anybody outside the US the US dollar is a bond - a zero percent bearer bond.
Therefore it is nothing more than a bond swap with a change in interest rate and term. The entity “owing” doesn’t change