ARGT - Why Argentina's Debt Proposal Deserves Support
After months of often difficult negotiations, Argentina made a new offer to creditors Sunday that stands a solid chance of anchoring one of the largest sovereign debt restructurings in the history of emerging markets. By potentially lifting a big cloud hanging over the country's ability to grow solidly and inclusively - directly for the government's finances and indirectly by improving prospects for private sector activity - such an orderly and collaborative resolution could help overcome long-standing economic challenges that have recently been worsened by Covid-19.
The proposal would open the way for agreement with the