Old Constellations and New Crossroads

Global Interdependence Center LeBow College of Business

Sovereign Debt Restructurings: Prospects and Challenges in Argentina Old Constellations and New Crossroads Overview and Current Developments EDGARDO DEMAESTRI February 28, 2020 Philadelphia

SIZE AND COMPOSITION OF PUBLIC DEBT (GENERAL GOVERNMENT) In US$ billions

SIZE AND COMPOSITION OF PUBLIC DEBT HELD BY PRIVATE SECTOR in US$ billions

WHY AGAIN? • • • •

Sovereign Credit Ratings of Argentina and South American Countries + Mexico (Simple averages of Standard and Poor’s, Moody’s, and Fitch credit ratings)

Source: Perrotti and Velloso 2020, on the basis of S&P, Moody’s and Fitch.

HOW TO GET OUT • • • • • • •

MEDIUM-TERM AND LONG-TERM CHALLENGES • • • • • •

Thank you