>>>> how to restore credibility...

Balance budget? Cut government down to size? Open up the country to investment by rule of law?

Its not difficult. Its just the ruling class has captured the levers of govt and the people dont know any better.

Sweden was able to do this. Argentina is only special insofar that the people leading it are the wrong ones to be in power

Some ridiculous number of the population, like 90%, depend on gov paychecks. The politicians grow and grow the dependency, make promises to get elected, increase the debt, inflate the money, get caught stealing garbage bags worth of it while in office and it goes on and on until it collapses and the same bs recets. Each time more and more smart honest people flee, brain drain, and the ones left behind become poorer, more entrapped, more dependent.

Argentines are seeking refuge in the blackmarket dollar, but that will eventually be a risk as well.

When did Sweden default on its debt? I don’t remember that.

They didn't default on their debt, precisely because they got their house back in order. But this came at great price, with major suffering by the populace during a 4-year economic crisis. [1] Despite all the suffering and poverty caused, the government took the opportunity to reform healthcare, which was a disaster [2] and bring costs under control.

Sweden has had a brighter future since.

[1] https://en.wikipedia.org/wiki/Sweden_financial_crisis_1990-1...

[2] p44 https://www.fraserinstitute.org/sites/default/files/SwedishH...