Macroeconomy/Finance

Argentina is in default and insurance is activated for $1.5 bn

A committee of the International Derivatives and Swaps Association (ISDA) defined that at least $1.5 billion will be paid in insurance against default or credit default swaps. To that end, the 14 members agreed that there was a default event last Friday when the grace period for paying the Global bonds expired.

Source: La Nación

Categories: Macroeconomy/Finance