Supreme Court’s Argentina Debt Ruling Will Reverberate in Emerging Markets

As the top judicial body in the American justice system, the U.S. Supreme Court is no stranger to setting legal precedents that reverberate for generations. However, more often than not, those rulings have little impact outside of U.S. borders. Last Monday, however, the high court reached a decision that might very well change the face of international finance for years to come. By ruling that Argentina must repay $1.3 billion to a group of persistent creditors, the nine justices potentially delivered a blow to emerging market economies dependent on international debt markets and put America’s global financial power on display […]

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