All Argentines’ attention is focused on the July 13 match against Germany, after their team surpassed the Netherlands in the penalty shootout in the semi-finals.
The news about football that is dominating the home pages of newspapers seems to make people temporarily forget about a more vital battle in this country.
Argentines are excited because their team has reached the semi-finals again after 24 years.
In 2001, Argentina declared default and could not pay foreign creditors a total of 100 billion USD.
The remaining creditors refused to write off the debt and insisted that Argentina pay both principal and interest.
The situation forced Argentina to race for time and quickly negotiate with the group of creditors who refused the restructuring plan.
Argentine Finance Minister Axel Kicillof met with a mediator Monday in the United States.
One of the reasons why it is difficult for the Argentine government to fully repay the debt is that if they comply with the demands of the above creditor group, they will also have to pay other creditors billions of dollars and this will lead to
Analysts say that the current situation is further pushing the Argentine economy into a deep recession, which has appeared since the first half of this year when the country had a shortage of foreign currency reserves and inflation was at double-digit levels.
Argentina’s efforts to reintegrate into the world financial system will also become more difficult if they do not negotiate successfully this weekend.
Mr. Duc
