{"id":2464,"date":"2026-08-14T01:36:39","date_gmt":"2026-08-13T22:36:39","guid":{"rendered":"https:\/\/sites.uwasa.fi\/mfjuva\/?page_id=2464"},"modified":"2026-08-14T01:36:39","modified_gmt":"2026-08-13T22:36:39","slug":"assessment-of-argentina","status":"publish","type":"page","link":"https:\/\/sites.uwasa.fi\/mfjuva\/all-issues\/assessment-of-argentina\/","title":{"rendered":""},"content":{"rendered":"

Assessment of Argentina\u2019s Creditworthiness After the Debt Restructuring<\/h2>\n

Multinational Finance Journal, 2021, vol. 25, no.3\/4, pp. 151\u2013161<\/p>\n

\"\"<\/a><\/p>\n

Elena Duggar<\/strong>, Moody\u2019s Investors Service, USA<\/em><\/p>\n

Gabriel Torres<\/strong>, Moody\u2019s Investors Service, USA<\/em><\/p>\n

Claire Li<\/strong>, Moody\u2019s Investors Service, USA<\/em><\/p>\n

Gabriel Agostini<\/strong>, Moody\u2019s Investors Service, USA<\/em><\/p>\n

Abstract:<\/strong><\/h3>\n

Argentina\u2019s 2020 debt restructuring was the second largest sovereign restructuring in history, after Greece\u2019s in 2012. The sovereign\u2019s latest default was triggered by extending maturities on short-term debt in August 2019, followed by another postponement of short-term debt payments in December 2019 and long-term debt payments in February 2020. In August 2019, the government also announced its intention to restructure its long-term debt. This article compares Argentina\u2019s sovereign debt crisis with prior sovereign bond defaults and sets forth Moody\u2019s view that significant challenges result in Argentina\u2019s creditworthiness remaining weak even after the debt restructuring and despite sizeable losses for investors. These challenges include Argentina\u2019s large share of foreign-currency debt amid its dependence on external foreign-exchange financing and limited domestic funding options, and subdued economic prospects as the coronavirus pandemic deepened the country\u2019s multi-year recession and also affected Argentina\u2019s main trading partners.<\/p>\n

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Keywords:<\/strong><\/h3>\n

Sovereign debt restructuring; sovereign debt default; country risk; creditworthiness; debt crisis.<\/p>\n

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Citation (APA):<\/strong><\/h3>\n

Duggar, E., Torres, G., Li, C., & Agostini, G. (2021). Assessment of Argentina\u2019s creditworthiness after the debt restructuring. Multinational Finance Journal, 25<\/em>(3\/4), 151\u2013161.<\/p>\n

Citation (Harvard):<\/strong><\/h3>\n
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Duggar, E., Torres, G., Li, C. and Agostini, G., 2021. Assessment of Argentina\u2019s Creditworthiness After the Debt Restructuring. Multinational Finance Journal<\/em>, 25(3\/4), pp.151\u2013161.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Assessment of Argentina\u2019s Creditworthiness After the Debt Restructuring Multinational Finance Journal, 2021, vol. 25, no.3\/4, pp. 151\u2013161 Elena Duggar, Moody\u2019s Investors Service, USA Gabriel Torres, Moody\u2019s Investors Service, USA Claire Li, Moody\u2019s Investors Service, USA Gabriel Agostini, Moody\u2019s Investors Service, USA Abstract: Argentina\u2019s 2020 debt restructuring was the second largest sovereign restructuring in history, after […]<\/p>\n","protected":false},"author":621,"featured_media":0,"parent":221,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2464","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2464"}],"collection":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/users\/621"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/comments?post=2464"}],"version-history":[{"count":1,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2464\/revisions"}],"predecessor-version":[{"id":2465,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/2464\/revisions\/2465"}],"up":[{"embeddable":true,"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/pages\/221"}],"wp:attachment":[{"href":"https:\/\/sites.uwasa.fi\/mfjuva\/wp-json\/wp\/v2\/media?parent=2464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}