Default with some titles yes and others not possible according to Daniel Marx

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The economist noted that the key date will be May 22, when the grace period expires. And he did not rule out that there is an extension of maturities

Economist Daniel Marx pointed out that Argentina could default “with some titles yes and others no” and believes that the key date will be May 22, since that day “the grace period expires,” he said.

“The so-called default with some titles yes and others no, it is possible. In the same presentation of the offer it is separated by class. There are five titles that are offered in dollars, others in euros. Of those five titles one could be working, another It might not be working. In theory, that would separate the categories because the different titles in force today have, in turn, opportunities to switch to some of the other titles on offer, “said Marx.

The economist also indicated in a dialogue with Radio Milenium that “in this situation, Argentina may eventually ask for an extension of that period – you have to see if they give it to you or not – it may not pay or it may pay. In the payment it may be in cash or it may be if they accept the new exchange the situation is already considered closed “.

On the other hand, he analyzed that “a probability of formal default” and remarked: “The question for me more important than that is how we have an orderly path from there, so as not to increase the difficulties we have today.”

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