Carmen Reinhart Says Argentina’s Debt Workout Won’t Be Its Last
- Offer kicks can down road as government seeks return to growth
- Deeper cuts needed to restore debt sustainability to Argentina
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Argentina’s latest effort to restructure its overseas debt probably won’t be its last, according to Harvard University economist Carmen Reinhart, who has sounded alarms over coming emerging markets crises in Venezuela and Turkey.
If anything, she said in an interview, Argentina’s initial offer merely kicks the can down the road. It will need to be revisited in a few years given the impact of the pandemic on the global economy, she said.