Greece was FORCED to take on more debt, with the newest tranches used to service pre-existing IMF debt.
Argentina will be equally pressured, but his ability to ship oil and gas through pipelines eliminates the IMF’s power to get oil and gas tankers seized at sea.
It’s when a precedent is set to default on the IMF that things get interesting.
I understand.
Greece also did not reform a bit and are probably still lying over their GDP as they’ve done since WWII.
He should negotiate and not default.
Paying will bolster the peso and ultimately lower the borrowing costs.
Defaulting will crush the peso and inhibit his plans.
Obv time will tell and it is going to be interesting to watch.