Colby Smith

Biggest creditors attack government’s proposal to restructure $65bn of foreign debt

Revised terms draw support from some creditors in key test before government debt crunch

President-elect Fernández is reticent on likely relationship with bondholders and IMF

Too harsh a restructuring deal could scare off investors, says one creditor

Wall Street investors back a rebound, citing historical precedents

Bondholders weigh deal with Macri against negotiating with likely successor Fernández

13/08 - 12:48 - Turmoil continues to rock currency after strong showing by populist candidate in primary vote

And although polls remain neck-and-neck, incumbent Mauricio Macri's re-election chances have also improved with the selection of his running mate, Peronist Senator Miguel Ángel Pichetto. This thinking goes that by shifting to the political centre and choosing someone from his opposition party, Macri will broaden his electoral appeal — a necessity if he is to reverse his slumping popularity.

At some point even if in the long-term what is good for the country is more adjustment, you may lose support from all of your stakeholders. It may not be just Congress, but lower levels of government that are not up for it. Then there are unions and big business owners