Mixed Response to Argentina Fund Scheme

Mixed Response to Argentina Fund Scheme

Argentina

Argentina’s plan to create a fund using excess central bank reserves to repay debt is getting mixed reviews from economists. While on the one hand it is seen as a positive step toward resolving problems with creditors, the effect this vehicle will have on the nation’s finances is far from clear. Bank of America-Merrill Lynch says in a report the move should help the sovereign as it moves towards a defaulted debt exchange. “The creation of the fund is a positive signal and should help to support

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