Argentina in 2001 faced a debt problem more serious than the U.S.debt problem because Argentina was obligated to repay its debt in
A)U.S.dollars.
B)their own currencies.
C)a relatively short period of time.
D)large installments.

Question

Quizplus · Accepted Answer

Argentina was obligated to repay its debt in U.S. dollars, which made the situation more difficult because it meant they had to obtain those dollars through exports or borrowing, both of which were difficult for Argentina at the time. The U.S. debt problem, on the other hand, is primarily denominated in U.S. dollars and the U.S. government can always print more money to pay off its debts, although this comes with its own set of risks and consequences.

Argentina in 2001 Faced a Debt Problem More Serious Than