Glover Park Group is providing strategic communications services to Argentina, which is on the brink of defaulting on $66B in debt held by Wall Street bankers and other foreign entities.
The COVID-19 economic lockdown, rising healthcare costs, rampant inflation and increased poverty among its 45M people make it likely that Argentina will default for the third time in two decades when a $503M debt payment comes due May 22.
The government of Alberto Fernandez, which took power seven months ago, is forecasting a 6.5 percent economic contraction during 2020.
The New York Times warns that another default threatens to revive Argentina's "reputation as a serial deadbeat and global financial pariah."
Glover Park is counseling Argentina's DC embassy on its diplomatic and economic relations with the US as a subcontractor to Arnold & Porter Kaye Scholer.
Brett O'Brien, managing director; Joshua Gross, senior VP, and Elliot Stein, director, report to Juan Usandivaras, who oversees investment and international trade at the embassy.
WPP owns Glover Park Group.