The World’s Biggest Sovereign Debt Defaults (CNBC)

While Greece and Puerto Rico’s debt-wrangling continues to be in a spotlight, CNBC recently did a slideshow on the largest sovereign debt defaults around the world with the top 10 being:

10. Ecuador
When: December, 2008
Size of default: $3.2 billion

9. Peru
When: September, 2000
Size of default: $4.9 billion

8. Uruguay
When: May, 2003
Size of default: $5.7 billion

7. Ecuador (again)
When: August, 1999
Size of default: $6.6 billion

6. Jamaica
When: February, 2010
Size of default: $7.9 billion

5. Jamaica (again)
When: February, 2013
Size of default: $9.1 billion

4. Greece
When: December, 2012
Size of default: $42 billion

3. Russia
When: August, 1998
Size of default: $73 billion

2. Argentina
When: November, 2001
Size of default: $82 billion

1. Greece (again)
When: March, 2012
Size of default: $261 billion

Note: Argentina’s most recent 2014 default was not included on the list because there is not yet a definitive figure for the sum involved.

To view the whole slideshow, The world’s biggest sovereign defaults, on the website of CNBC.

Similar Posts:

• Argentina: A Growing Opportunity Set for Distressed Debt (Man Group)
• Eleven Frontier or Emerging Markets Near Bankruptcy (USA Today)
• Bloomberg’s Misery Index’s Most Miserable Emerging Markets
• The 15 Most Miserable Emerging Market Economies (Bloomberg)
• Graph: The Structure of Russia’s Foreign Debt (Research Affiliates)
• Emerging Market CDS Volume Up 46% in 2014 (EMTA)
• Is There Progress Fighting Latin American Corruption? (Economist)
• Invest in Poorer Performing Emerging Markets for Better Gains? (CNBC)
• Disorderly Venezuela Default on an Argentina scale is Almost Inevitable (FT)
• Peso Plunge: Collapse of Currency Dredges Up Old Frustrations, Threatens Argentina’s President (Washington Times)