date:Jun 30, 2014
th the holdouts.
The peso is not stable, it does not make sense to sell much of what we produce because you cannot buy anything worthwhile with the money, Novecourt said. If we can trade grain for fertilizer or agro-chemicals or whatever, that's what we do.
Argentine growers are paid in local currency for their crops, and are kept from converting their pesos into U.S. dollars by government-imposed currency controls.
A sovereign default could increase interest rates, pressuring farmers already