Argentina Opens New Year With Debt Issue Despite Being In Default

The Argentine government is opening 2020 by issuing ~1.3 billion USD in USD denominated treaury notes to be subscribed directly by the local central bank (archived). This move comes despite Argentina being in acute default for failing to make payments on existing debt and openly claiming their intent to "renegotiate" the outstanding debts they aren't paying. The Pink House's Albert Fernandez is presently insisting that the bulk of  "renegotiation" concerning Argentina's existing debt wil be aimed to fuck over local note holders instead of international holders, for points of "international law" he refuses to engage.

Argentina's present crisis is being attributed in the popular local press to the relatively open market policies of former President Macri though this crisis's origin is firmly rooted in market reactions to Argentina's insane electorate electing the current government.

Despite Argentina's lack of means to make payment, the more Northerly Argentines in the USG have pre-approved the sale of four P-3C patrol planes to Argentina for 78 million USD (archived). Should the transaction manage to proceed to delivery, the planes will replace six P-3B aircraft that rotted out of operational capacity despite still appearing in Argentina's official inventories. The new planes will likely meet the same fate.

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