Argentina's inability to meet its debt commitments has dashed hopes of obtaining badly needed international credit.
Argentine stocks and bonds fell sharply this past week as the government left markets guessing about policy direction after the appointment of a new central bank chief viewed as sympathetic to the government's ramped-up interventions in the economy.
But while the government is in desperate need of cash, it continues to spend - much of it on social projects and subsidies which many economists warn are taking South America's second largest nation to the brink of bankruptcy.
So will the government pull back on its spending?
Lucia Newman reports from Argentina.
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Source: Al Jazeera