Credit Review



In early November, Roberto Lavagna, the economy minister of Argentina, revealed a proposal to restructure $100 billion in defaulted debt, setting the stage for the largest debt write-off in history. Bondholders, however, have found little comfort in a plan strikingly similar to those they have already rejected.

Comitato Creditori Argentina, a group of bondholders representing approximately $4 billion of Argentine bonds based in Italy, immediately expressed disapproval of the plan as did the

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