How much is Argentina in debt?
Argentina’s economy plunged by 9.9% last year. Like so many others, it was ravaged by the coronavirus pandemic. The difference is that the South American country was already struggling under a total debt burden of $323 billion (€266 billion).
What is Argentina foreign debt?
In the first quarter of 2021, the public debt that Argentina’s central government owed to foreign creditors equaled 45 percent of the country’s gross domestic product (GDP). The volume of external debt in relation to GDP has been steadily increasing since 2012, when the share stood at 11.2 percent.
What happened to the Argentine government debt in 2020?
What went wrong? First, while bondholders accepted an income reduction of almost $40bn over 2020-24, Argentina’s public debt in relation to GDP is set to increase this year to around 110%, up from 98% in 2019. Second, the share of the public debt denominated in foreign currency remains broadly unchanged, at about 70%.
How much does Argentina owe the IMF?
Argentina owes the IMF $400 million in interest in November, and about $1.9 billion in principal in December, according to a schedule of its debt obligations.
How wealthy is Argentina?
With a Gross Domestic Product (GDP) of approximately US$450 billion, Argentina is one of the largest economies in Latin America. Argentina has vast natural resources in energy and agriculture.
How much is the external debt of Argentina?
External Debt in Argentina averaged 165692.36 USD Million from 1994 until 2021, reaching an all time high of 283129.15 USD Million in the second quarter of 2019 and a record low of 87524.40 USD Million in the fourth quarter of 1994.
Will Argentina economy recover?
BUENOS AIRES, Aug 6 (Reuters) – Argentina’s economy is expected to grow 7% this year and 4.5% in 2022, President Alberto Fernandez said on Friday, forecasting a rebound after three years of recession exacerbated in 2020 by the COVID-19 pandemic. “We are on the road to economic recovery.
Who are Argentina’s creditors?
The three creditor groups are known as the Ad Hoc Group of Argentine Bondholders, the Exchange Bondholder group and the Argentina Creditor Committee. The negotiations have been over the restructuring of around $65 billion in debt which the Argentinean state owes to these and other bondholders.
When was Argentina the richest country?
1913
Argentina began the 20th century as one of the wealthiest places on the planet. In 1913, it was richer than France or Germany, almost twice as prosperous as Spain, and its per capita GDP was almost as high as that of Canada.
Is Argentina poor than India?
In India, 21.9% live below the poverty line as of 2011. In Argentina, however, that number is 25.7% as of 2017.