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Default: The Landmark Court Battle over Argentina's $100 Billion Debt Restructuring - LM News and Insights
Gregory Makoff, author of new book Default: The Landmark Court Battle over Argentina’s $100 Billion Debt Restructuring joins OMFIF US Chair Mark Sobel to discuss Argentina’s nearly two-decades-long sovereign debt litigation following the 2001 default. Both review the spectacular blow-up of the Argentine economy, the litigation’s timeline and the US government’s role at various junctures.
26 FEBRUARY 2024
Full details available via OMFIF and Center for Global Development
Gregory Makoff, author of new book Default: The Landmark Court Battle over Argentina’s $100 Billion Debt Restructuring joins OMFIF US Chair Mark Sobel to discuss Argentina’s nearly two-decades-long sovereign debt litigation following the 2001 default. Both review the spectacular blow-up of the Argentine economy, the litigation’s timeline and the US government’s role at various junctures.
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Book Launch: “Default: The Landmark Court Battle over Argentina’s $100 Billion Debt Restructuring” by Gregory Makoff
Please join the Center for Global Development to discuss Gregory Makoff’s new book, Default: The Landmark Court Battle over Argentina’s $100 Billion Debt Restructuring. The book describes the fifteen-year conflict over Argentina’s 2001 default that led to a decade of litigation in U.S. courts and remade the legal framework for sovereign debt financing. Makoff brings readers into the negotiating rooms, the backrooms, and the courtrooms where Argentina’s financial future was decided. The turning point in this drama was the unprecedented injunction by a U.S. court barring U.S. bank from paying consenting creditors who agreed to a deep haircut until Argentina paid the holdout creditors in full.
An audience Q&A will follow the presentation and discussants’ comments.
About the author:
Gregory Makoff is a Senior Fellow at the Mossavar-Rahmani Center for Business and Government (M-RCBG) at Harvard’s Kennedy School. A physicist by training, he worked at Citigroup Global Markets (1993-2014) as an advisor to companies, financial institutions, and countries regarding their debt. During 2015-2016 he worked at the U.S. Treasury on the Puerto Rico Oversight, Management, and Economic Stability Act. Since 2015 he has been writing about sovereign debt as a Non-Resident Senior Fellow at the Centre for International Governance Innovation, a think tank based in Waterloo, Ontario.
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