Argentina defaults

|By:, SA News Editor

Negotiations with holdout investors and a last-minute Argentine bank proposal fell through yesterday, triggering Argentina's sovereign default following its midnight deadline.

The default will further hurt Argentina's economy which is already suffering from a recession and marks another set-back to the country's attempts to return to the global credit markets.

Argentina has been isolated from international markets since its $100B default in 2002.

ETFs: ARGT