Most Argentines Back Their President, Not Debt

March 5, 2004

BUENOS AIRES, Argentina – With the Argentine economy showing signs of life again following the worst economic crisis in its history, President Nestor Kirchner’s defiant proposal to repay only a fraction of the nearly $88 billion the country owes to creditors in the United States, Europe and Japan is rallying voters here and angering bondholders abroad.

Argentina defaulted on the bonds in December 2001, deepening a long recession and leading to a sharp devaluation of the peso. Argentina’s economy grew last year for the first time in five years, by nearly 8 percent. But with one in five workers unemployed, and more than half of the country’s 38 million people living in poverty, Kirchner has not budged from his insistence that Argentina cannot afford to repay the defaulted bonds at anything close to their full prices.

 

You may be interested

Give green in Costa Rica: holiday gifts that will live on all year
Environment and Wildlife
716 views
Environment and Wildlife
716 views

Give green in Costa Rica: holiday gifts that will live on all year

Ed Bernhardt - December 16, 2017

A warm holiday greeting from the garden to all our readers. Another year has come to an end, and it’s…

Honduran opposition protesters take to the streets
Central America
1532 views
Central America
1532 views

Honduran opposition protesters take to the streets

Noe Leiva / AFP - December 15, 2017

Supporters of the leftist opposition in Honduras blocked streets in various cities around that country on Friday, despite political repression,…

Of snow, kindness and Northern Lights: a Costa Rican in Manitoba, Canada
Please Send Coffee!
2399 views
Please Send Coffee!
2399 views

Of snow, kindness and Northern Lights: a Costa Rican in Manitoba, Canada

Gustavo Díaz Cruz - December 14, 2017

My mom named me Gustavo Adolfo. I was born in Puntarenas, next to the sea, but my home was in…