Willy was joined by Gregory Makoff, a Senior Fellow at the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School and an expert on sovereign debt management.
He previously worked as a banker specializing in debt restructuring, advised the U.S. Department of the Treasury, and recently authored a book, Default: The Landmark Court Battle over Argentina’s $100 Billion Debt Restructuring.
He and Willy discussed the details of Argentina’s decades-long sovereign debt litigation, the U.S. financial situation and what we can learn from Argentina to prevent a national crisis, the negative fiscal impact of the growing partisan divide, the U.S. economy’s influence on global debt, and so much more.
Watch or listen to the replay.
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Key Points In The Webcast:
00:00 Introduction
01:42 Willy introduces Gregory Makoff
03:13 Can President Milei save the Argentine economy?
06:14 Learning from Carlos Menem’s reforms in the ‘90s
10:50 The implications of pegging currency to the US dollar
14:50 Encouraging foreign investment into Argentina
21:48 The Elliott Management holdout and Thomas Grecia
26:12 Ted Olson’s argument in the Elliott Management case
33:33 Did Mauricio Macri make an economic impact?
38:02 Sovereigns can’t file for bankruptcy
41:44 US and Argentina: comparing economies
44:01 Why is the US's debt ratio more concerning than China’s?
46:03 Why the US should avoid repeating Argentina’s mistakes
50:32 The need for centrists in office
53:31 An economic crash isn’t imminent but possible
56:20 Is crypto a viable competitor as a reserve currency?
59:13 Will President Milei get re-elected?
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