Argentina’s default explained

Last week, Argentina defaulted for a second time. What are the implications for the country – and for the rest of the world? Matthew Partridge reports.

What happened?

Argentina was declared to be in ‘selective default’ by Standard and Poor’s last Thursday. This took place after a deadline imposed by a US court to reach a deal with holdout owners of government bonds expired. (The ‘holdouts’ are owners of bonds who have refused to accept interest-rate cuts agreed as part of two rescue deals for Argentina.)

The problem is that, due to the court’s ruling, Argentina is [...]

MoneyWeek magazine

Latest issue:

Magazine cover
Paying by mobile

Why your phone will replace your wallet

The UK's best-selling financial magazine. Take a FREE trial today.
Claim 4 FREE Issues
Shale gas 'fracking' promises to transform Britain's energy market. Find out what it is, what it means, and how to invest.

Which investment platform?

When it comes to buying shares and funds, there are several investment platforms and brokers to choose from. They all offer various fee structures to suit individual investing habits.
Find out which one is best for you.