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May-19-2007
German Gref, Russia’s Economy Minister, told reporters that Russia will not allow indebted state companies to default. It was reported that more than a half-dozen journalists with the Russian News Service, have resigned to protest the new pro-Kremlin management's policy that at least 50 percent of coverage must be positive.
Mar-16-2006
The US Senate approved a $781 billion increase in U.S. borrowing authority aimed at averting a possible government default on debt this month. The Senate narrowly passed a $2.8 trillion election-year budget blueprint.
Jul-18-2005
Argentina issued dollar bonds for the 1st time since its massive default in 2001.
Jan-16-2003
Argentina reached a preliminary agreement with the International Monetary Fund to avoid default.
Nov-14-2002
Argentina will not fully meet an $809 million World Bank debt payment deadline, resulting in a multilateral debt default that will likely cut off one of its last avenues to aid.
Nov-05-2001
Domingo Cavallo, the economy minister, said Argentina planned to restructure $95 billion of debt to avoid default.
Apr-28-1999
The IMF reached a preliminary agreement with Russia for a $4.5 billion, that would not go to Russia but work as an accounting measure to prevent default on money already owed.
Oct-26-1998
The Education Department reported that the default rate on student loans had fallen into single digits for the first time.
Dec-15-1978
Cleveland became the first major US city since the Great Depression to default on its loans.
Mar-24-1976
In Argentina the military overthrew the government of Isabel Peron. Gen. Jorge Rafael Videla led the military coup. Jose Siderman, a Jewish businessman, was forced with death threats to leave the country. He filed suit in the US in 1982 in the first trial of a foreign government for human-rights abuses and won a default settlement. Argentina won a reversal in an appeals court but in 1996 Argentina dropped opposition to the suit.      

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