Quotes from BNP Paribas:
-2015 looks set to be a risky year for the Argentine economy, which fell into recession in Q3-2014 and is very likely to remain there in 2015. A depreciating currency and rising inflation are forming a vicious circle, the twin deficits are rising and there is still serious pressure on currency reserves despite exchange controls.
-The Argentine government has lost its legal battle with activist funds and the chances of an agreement in 2015 are very slim, meaning that it will remain unable to access the markets. The proposed debt swap and dollar-denominated bond issue have flopped. The risk of Argentina experiencing a balance-of-payments crisis and defaulting on its external debt – both public- and private-sector – remains high.
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