By: Garrett Patten
Recently, investor attention has been drawn to a less-familiar South American country — Argentina. With a seemingly certain default looming, concern is that the contagion will spread to other bond and equity markets. Just how grim is the situation though? Most media outlets have painted a very bleak picture for Argentina's future, but in reality, things may turn out better than expected.
Some opinions concerning Argentina have not changed drastically since the last default in 2001. Many think that the same delinquent government responsible for hyperinflation and a public debt of 166% to GDP at the turn of the century is losing face again. Now deemed a repeat offender, the term "deadbeat" is even being thrown around in media coverage of Argentina. In truth, the situation today holds very few similarities to the one over a decade ago.
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