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"The economy is not in as much difficulty as in previous crisis".
Trouble has a habit of striking places that avoided the previous crisis and became overconfident.
If the previous crisis was largely caused by ill-advised international lending, this one was homegrown.
Electronic payments are also more popular than they were during the previous crisis so any sudden need for cash should be reduced.
It would be the second time in only 12 years, after the country defaulted on around $100bn of debt during its previous crisis.
The restructuring was agreed in the wake of Argentina's previous crisis, when the country defaulted on around $100bn of debt in 2001.
Similar(25)
Previous crises have generated promises to regulate global finance.
Previous crises and conflicts have found him out.
Regulatory failures have been at the center of previous crises as well.
The poorer countries haven't had time to recover from previous crises".
As in previous crises, they blamed the country's whites for plotting the trouble.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com