sovereign default
[/ˈsɒvrɪn dɪˈfɔːlt/]
nounpl: sovereign defaults
calote soberano
1. A situation in which a national government fails or refuses to pay its debt obligations to creditors
The country faced a sovereign default after years of economic mismanagement and mounting debt.
O país enfrentou um calote soberano após anos de má gestão econômica e dívida crescente.
2. The inability or unwillingness of a state to meet its financial commitments on bonds or loans issued in foreign currency
Argentina's sovereign default in 2001 had devastating consequences for the nation's economy.
O calote soberano da Argentina em 2001 teve consequências devastadoras para a economia do país.
3. A political and economic event where a country breaches its contractual obligations to international creditors
Investors feared a sovereign default would trigger a regional financial crisis.
Os investidores temiam que um calote soberano desencadeasse uma crise financeira regional.
Sovereign default is a critical term in international finance and economics, particularly relevant in Brazil and Portugal due to historical economic crises. Argentina's 2001 default is a landmark case frequently cited in academic and policy discussions. In Brazil, the term 'calote' carries colloquial weight beyond finance, meaning to skip out on payment, making 'calote soberano' both technically precise and culturally resonant.
Related Idioms & Phrases
to default on sovereign debt
sovereign debt crisis
to declare sovereign default
risk of sovereign default
imminent sovereign default
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