state default
[/steɪt dɪˈfɔːlt/]
nounpl: state defaults
calote estatal / inadimplência do estado
1. The failure or refusal of a state or government to pay its debt obligations, including bonds, loans, or other financial commitments
The country faced a state default when it could not pay its international creditors.
O país enfrentou um calote estatal quando não conseguiu pagar seus credores internacionais.
2. A situation where a state government becomes unable or unwilling to meet its financial obligations to bondholders or lenders
Argentina's state default in 2001 caused significant economic turmoil.
O calote estatal da Argentina em 2001 causou grande turbulência econômica.
State defaults have significant historical importance in both Brazil and Argentina. Argentina's 2001 default is a landmark event in Latin American economic history. In the United States context, state defaults are rare due to strong constitutional and market mechanisms, but municipal bond defaults can occur at the state level. The term carries serious economic and political implications in discussions of fiscal responsibility and international relations.
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