Cecilia Nahon: Argentina vs the Vultures

The video discusses Argentina's debt crisis, starting with the 1991 currency board that pegged the peso to the US dollar, leading to economic instability and a severe recession by 2001. Argentina's subsequent debt restructuring efforts, including GDP-linked bonds, were largely successful, but faced challenges from vulture funds that refused to accept the terms. These legal battles highlighted flaws in the international financial system, prompting discussions on the need for a global sovereign debt restructuring framework. The video emphasizes the importance of sustainable debt management and international cooperation.

What international support did Argentina receive regarding its debt issues?

What is the significance of the pari passu clause in the context of Argentina's debt?

What changes have occurred in the way countries issue debt since Argentina's experience?

How does Argentina's case reflect on the international financial system?