The country currently owes $324 billion, or 90% of its GDP. It had been in the process of renegotiating its crippling debt when the coronavirus pandemic hit, slamming the country's economy even further. But life in Buenos Aires goes on, Army kitchens are distributing free food, there are no demonstrations on the street, no protests against the IMF and the vultures, people takes the crisis as a natural phase of Argentine's fifty years decadence.
Regarding the
wiki's ranking of foreign debts, Argentina is only in the 33rd position and relative to the GNP it is almost solvent. 33 countries are more indebted then Argentina, in the first place, the United States, and in the second, Britain. Paradoxically, they feel none of the anxiety and misery of Argentina.
Could it be that default is a state of mind?
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