The Traderszone Network

Published in TZ Latest News 28 July, 2014 by The TZ Newswire Staff

Jaded Argentines brace for looming debt default

Factory owner Norberto Garcia was poised to launch a series of new toys this year after grafting hard for the past decade to rebuild his business following Argentina’s 2001-2002 economic crash and debt default. Garcia’s wait-and-see attitude is typical of other businesses who anticipate a slowdown in sales in a country grappling with a surging inflation rate but are convinced any economic downturn will be moderate. While unsettling, the debt crisis today is a far cry from the turmoil of Argentina’s $100 billion default in 2002, and Garcia is optimistic things will ultimately improve.

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