Little progress has been made in the rebuilding of the
fractured economy as Argentinian rulemakers and the rest of
society await details of its latest debt restructuring. The
government of newly elected president Alberto Fernández
promised that an updated deal of the country's $100 billion
debt would be on the table by the end of this month, but given
the magnitude of the task and the country's economic woes this
timetable seems nigh on impossible.
Matters have worsened with the Covid-19 virus causing a
slowdown in oil prices, the global stock market panic, and the
country's Merval index falling 14% on Monday 9 February,
despite a relative low number of cases in the country.
As the country awaits news of the deal, regular law making
and regulatory change is on hold. The possibility of a default
is all too real.
"The whole country is affected by the future restructuring