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.
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