Joseph E. Stiglitz – May 11, 2020

Argentina’s bondholders need to present a reasonable counteroffer to avoid another debt default by the South American nation, according to Nobel laureate economist Joseph Stiglitz.

The Columbia University professor, who has mentored Argentina’s Economy Minister Martin Guzman, praised the government of President Alberto Fernandez for coming up with a plan that would put the country’s debt on a sustainable path. He also warned that creditors may undermine trust in international debt markets by “playing hardball” amid a global pandemic.

Originally published in Bloomberg. You can read the full article here.