in other parts of our world the
President of Argentina revealed his country is in a virtual default an
interview with a local TV program aborto Fernandes compared Argentina’s current
economic situation to the 2001 crisis poverty rate stands at 41% whereas in
2001 it reached 57% in December 2001 the Argentine government declared default on
roughly 100 billion u.s. dollars of debt the country is currently in recession
and agreed to take out a 57 billion US dollar loan from the IMF last year
it’s the largest bailout amount the global body has ever lent to any country