Argentine bondholders braced for steep losses

Financial Times/Colby Smith/10-21-2019

“‘The IMF doesn’t want a small haircut, but a big one,’ the bondholder said, adding that the IMF did not want to be accused of using public money to bail out creditors.”

USAGOLD note:  It doesn’ seem like the IMF is all that interested in acting as a back-stop in this situation. Instead, it seems ready to let Argentina’s bondholders take one on the chin. Though situations like this one rarely inflict damage in a larger context, generally speaking those who finance emerging country debt are likely to take note. . . . .

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