Argentina defaults on its external debt and announces the suspension of payments, the biggest debt default in history to date. The government suspended payments on over $132 billion of federal sovereign debt. The default followed a four-year recession and mounting social unrest.
Argentina defaulted again on May 22, 2020, missing a $500 million payment to creditors, marking its ninth default in history. Argentina has a history of debt defaults and restructurings having experiencied nine defaults since gaining independence in 1816. More